Several parties have come forward to express an interest in buying a South Wales hotel placed in administration following financial difficulties, it emerged today.
Accountancy group Smith & Williamson has been appointed administrator of the business in Barry.
Gil Lemon and Greg Palfrey, directors within the firm’s restructuring and recovery arm, are running the financial affairs of the Best Western Mount Sorrel Hotel whilst a buyer is sought.
The hotel, in Porthkerry Road and reputedly Barry’s largest, trades as normal, with all 31 employees retained.
Gil, a turnaround and restructuring specialist who joined Smith & Williamson’s Bristol office three months ago (May), said: “We have been appointed by the directors of Martin Willcock Ltd, which trades as Best Western Mount Sorrel Hotel, to try to sell the hotel as a going concern after it hit severe cash pressures.”
He added: “We are extremely optimistic about achieving a sale for this established 42-bedroom hotel, which has been recently refurbished and includes a restaurant, bar, indoor pool and gym.
“The hotel comes under the respected Best Western brand but is independently managed, and several parties have come forward to express an interest in purchasing the business since we were appointed administrators.
“These are early days and we will be weighing up the offers to date carefully to see what represents the best value, for the business, creditors and employees.
“I would like to publicly praise the hotel staff, who have been incredibly supportive and co-operative despite what is, understandably, an unsettling time for them.”
With a three-star AA rating, the venue accommodates up to 240 people in three function rooms, for corporate, wedding and social events, with a 80-person bar and a 45-seat restaurant.