Grantham-based hotel goes into Administration

02 September 2019

Diana Frangou and Adrian Allen of RSM Restructuring Advisory LLP were appointed Joint Administrators of New Barn Hotel Limited, trading as The Olde Barn Hotel near Grantham, on 27 August.

The Company, based in Marston near Grantham, owns and operates The Olde Barn Hotel which has 103 bedrooms together with a leisure club, restaurant and function facilities.

The decision to appoint administrators was made by the directors of New Barn Hotel Limited after the business suffered from cashflow pressures. The Joint Administrators’ intention is to continue to trade the hotel whilst they market the hotel and business for sale as a going concern.

Diana Frangou, RSM restructuring partner and one of the Joint Administrators, said: ‘Due to cashflow pressures, the directors took the reluctant decision to place the Company into administration.’

‘The Joint Administrators’ intended strategy, with the ongoing support of the existing management and staff, is for the hotel to continue to trade whilst we market it for sale as a going concern. We expect that there will be a lot of interest from potential buyers.’

‘Interested parties, who would like talk about purchasing the hotel, should contact the appointed agent James Williamson of Avison Young.”