Paul Dumbell and Brian Green from KPMG's Restructuring team in Manchester have today been appointed joint administrators of Ruthin Castle Limited, the historic grade II listed hotel and spa situated in Ruthin, North Wales.
A popular wedding venue, the hotel employs approximately 100 staff and comprises 60 en-suite bedrooms, a restaurant, bar and spa.
Immediately upon appointment, the joint administrators sold the trade and assets of the company via a pre-pack agreement to a joint venture incorporating private equity firm Kepler Capital Ltd, Prima Hotel Group and existing management.
The sale ensures that all jobs have been saved, with the hotel now being operated by and branded as a Prima Hotel. Additionally, the new owners have agreed to honour all bookings, including all residential stays, spa bookings and weddings.
Anthony Saint-Claire, a director of the new joint venture company, Ruthin Castle Estates Limited, commented: “I am delighted that we have been able to restructure the business and come to an agreement which secures its future trading and the ongoing employment of all staff.”
Paul Dumbell, joint administrator and director at KPMG, added: “In recent years, Ruthin Castle Limited had invested heavily in a substantial refurbishment of the hotel in order to achieve a 4-star listing. It is therefore great news that we’ve been able to reach a conclusion which ensures the hotel remains open, and which minimises disruption to staff, suppliers and customers alike.”
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