Jobs Set To Be Saved & Bookings Honoured As Buyer Found For Hothorpe Hall

Job are set to be saved and bookings guaranteed after a buyer was found for a wedding and entertainment venue near Market Harborough, which collapsed into administration last month.

The deal for Hothorpe Hall, worth £3.9m, is set to be completed next month.

The new owner, which is unnamed in documents seen by Hfm, has said it will honour some £1.4m in deposits taken by the previous owners, including for events which had to be postponed because of restrictions brought in because of the Covid-19 pandemic.

The Joint Administrators’ proposals also say all 44 staff, currently furloughed, will be transferred to the new owners.

Administrators, FRP Advisory, say they received huge interest in the 55-bedroom venue near Theddingworth, with almost 500 offers received.

They were called in in December, after the previous owners sustained cashflow difficulties since the start of the coronavirus pandemic, with events unable to take place.

Speaking at the time, Yasmin Bhikha, director at FRP and joint administrator, said “Like much of the rest of the UK hospitality and leisure sector,  Hothorpe Hall has seen their ability to operate severely restricted by the pandemic, which has led to financial difficulties and need for restructuring.”

Hothorpe Hall