New Barn Hotel Limited (08653835): administration
- Status
- Administration ended
- Administration began
- 2019-08-27
- Administrators
- Diana Frangou, Adrian David Allen
- Administrators' firm
- RSM
- Formerly
- Olde Barn Ltd
- Incorporated
- 2013-08-16
- Location
- Birmingham
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated in 16 August 2013 to purchase and operate The Olde Barn Hotel (“the Hotel”) which 1s located in Marston, near Grantham. The hotel consists of 103 bedrooms and extensive conferencing and function facilities, as well as operating a health and leisure club for both Hotel guests and private members. This has been the sole trading activity of the Company.
Since incorporation the Company has sought to increase the revenues and attraction of the Hotel to both the corporate and private markets. The Hotel has previously been extended increasing the number of bedrooms to 103. In addition, there has been renovation and refurbishments undertaken on the older parts of the Hotel. This has incurred significant capital expenditure.
From July 2019 the Hotel has operated under the Choice Hotels brand, having previously operated as both a Ramada Resort and Wyndham hotel. The change of brands, over a relatively short period of time, has not been conducive to enhancing revenues.
Administrators' statement of proposals (2019-10-23) · Companies House register