A UK hotel has been rescued after collapsing into administration, with 60 jobs saved. Mersey View Pleasure Grounds Limited, the company behind Forest Hills Hotel in Frodsham, Cheshire, appointed administrators on March 17. Lisa Moxon and Christopher Benjamin Barrett of DSW Business Recovery began a sales process for the hotel, which has been in business for 120 years, shortly afterwards.
The site, which includes a leisure club with a swimming pool, sauna, 58 bedrooms and a restaurant, was then successfully sold to Elmstech Limited for £1.55 million. The move saved the hotel, which has hosted notable performers including The Searchers and The Beatles, and rescued 60 jobs.
Lisa Moxon, administrator and Partner at DSW Business Recovery, said: “From the outset our priority was to quickly secure a buyer for the business, to provide security for Forest Hills Hotel’s employees in what continues to be a challenging economic climate.
“While the hospitality sector has faced setbacks in recent years, it’s encouraging to see continued interest and investment in legacy venues like this.”
Simon Dunn, Director of Elmstech Ltd, added: “Acquiring Forest Hills Hotel will preserve a historic and much-loved property for the Frodsham and wider Chester community.
“It was a pleasure working with Lisa at DSW Business Recovery, whose guidance ensured the process smooth and efficient throughout.”
Hospitality businesses across the UK have struggled to maintain business in recent months amid rising tax and energy costs.
Trade organisation UK Hospitality warned that hotel business rates are set to increase by 115% by 2029 after changes to the commercial property tax announced in November’s Budget.
The Treasury introduced a lower multiplier used to calculate business rates but this was more than offset by the removal of a Covid-era 40% discount to business rates bills for hospitality, leisure and retail businesses, as well as new property valuations.
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