The Joint Administrators of Hothorpe Hall Limited have finished the sale of the company’s business and assets in a deal that secures 36 jobs.
The business, which is based near Theddingworth, Leicestershire, has been sold for a cash consideration of £3.55m to a different company, Hothorpe Hall (Venues) Limited, area of the KCT Group.
The deal follows a marketing process conducted by Yasmin Bhikha and John Lowe, partners at specialist business advisory firm FRP, following their appointment as Joint Administrators on 14 December 2021.
All 36 staff will TUPE transfer to the buyer as part of the transaction.
The buyers plan to reopen the site in line with the Government’s ‘Roadmap from Lockdown’.
Yasmin Bhikha, Director at FRP and Joint Administrator, said: “The reopening of the UK economy after lockdown couldn’t come soon enough for venues like Hothorpe Hall, that have been hard hit by the pandemic.
“Now, equipped with fresh investment and a new ownership team, the venue is gearing up to open its doors once more and welcome guests. We’re thrilled for all the team and its returning staff and wish them all the best.”
Savills acted as agent for the Joint Administrators.