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Jobs saved as £3 55m sale of wedding venue hit by Covid-19 restrictions completed
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Iconic wedding and entertainment venue near Harborough sold for over £3 million – saving the jobs of 36 staff
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Jobs set to be saved as buyer found for wedding venue hit by Covid-19 restrictions
There were more than 500 offers for the business
Hothorpe Hall (Image: Google)
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Dan Whelan
Cashflow issues stemming from a contract dispute at the end of 2019, compounded by the impact of the Covid-19 pandemic, resulted in the Manchester-based construction firm appointing FRP Advisory as administrators last month.
The company owes around £2.9m to creditors, according to the administrators’ first report:
£1.3m to suppliers and subcontractors
£700,000 to Barclays
£784,000 to HM Revenue & Customs
The company is expected to realise £360,000 from the sale of assets, the recovery of inter-company debts and the repayment of the director’s loan account, according to the administrator.
Lyceum Manchester, the special purpose vehicle delivering an 82-bedroom apartment scheme in Eccles, was also placed into administration last month owing £30,000 to Goodwin’s.