Buyer sought for Olde Barn Hotel
The Olde Barn Hotel in Lincolnshire has fallen into administration. A buyer is now being sought for the business, which employs 74 people.
Lyn Vardy and Ian Green of PwC have been appointed joint administrators for the hotel, which also incorporates a health club and spa.
The administrators are seeking a buyer which will allow the business to continue to trade. The company is currently operating as normal and future events and bookings are still being honoured, confirmed PwC.
Lyn Vardy, joint administrator and director at PwC, said: “The hospitality industry continues to suffer in the economic downturn. Due to falling demand, trading has suffered in recent months. The company was facing difficulty in meetings its financial obligations so we have been appointed to protect the business to allow it to continue trading while seeking a purchaser.
“We are looking to secure the rapid sale of the business and assets of The Olde Barn Hotel and consequently we are very keen to speak to anyone who might have an interest in acquiring all, or part, of the business or assets of the company.”
