Company Behind Two Weymouth Hotels Goes Into Administration
4:45pm 23rd October 2013
The company which owns The Prince Regent and the Russell Hotel in Weymouth has been placed into administration.
Hollybush Hotels Limited trades as Martyn Leisure Breaks.
It also has The Sherborne Hotel in Sherborne, Harrisons Hotel in Shepperton, Middlesex and the Sand Bay Leisure Resort in Western-super-Mare, Somerset.
The company employs over 300 staff across all sites.
Nick Cropper, Peter Holder and Anne O'Keefe, Partners at Advisory and Restructuring specialists Zolfo Cooper LLP, were appointed Joint Administrators.
The hotels will continue to trade, and the administrators intend to honour all bookings and deposits received from customers before the administrators were appointed.
Nick Cropper, Partner at Zolfo Cooper, commented: "We believe the Company's hotels are attractive to a range of potential buyers and welcome expressions of interest from third parties to acquire any or all of the hotels and the leisure park. We would also like to thank the staff for their continued support and professionalism during this process. Further information will be provided once we have conducted our initial appraisal of the situation."
GVA has been appointed as the agent for the sale of the properties. John Mitchell, Director, Hotels and Leisure, GVA commented: "The Prince Regent and Russell Hotels on the Weymouth seafront have magnificent views along the Jurassic coastline, and Harrisons Hotel in Shepperton has excellent potential for a variety of uses."