Sale set to be agreed for disused hotel

Business advisory firm Quantuma is expected to complete the sale of the Humber Bridge Country Hotel – formerly known as Reeds Hotel – in Barton upon Humber in the coming days.

Quantuma managing director Simon Campbell and Tauseef Rashid were appointed as LPA receivers of the three star rated hotel, which is located on the south bank of the River Humber, in February 2020 by secured creditors.

As part of this appointment, the site is being cleared and protected for the benefit of those creditors and of the wider local community.

The operators of the site, Star Holdings (Humber) Limited, have been unable to turn the business around since they bought it out of liquidation in January 2020, partly due to the problems caused by the COVID-19 pandemic.

The hotel was flooded in 2016 due to a freak tidal surge in the nearby Humber and the hotel has never since returned to profitability.

Simon Campbell, managing director at Quantuma, said: “Since our appointment as LPA receivers, our focus has been to ensure all restructuring options have been explored.

“Unfortunately, despite the best efforts of the operator over a period of five years, a viable hotel business has not been forthcoming, a position exacerbated by the current pandemic.

“We understand the third-party purchaser is looking to progress plans for a caravan park and we wish them the best of luck with the new venture, turning the page on a difficult period for the site.”