Mon, 24 May 2021 | ADMINISTRATION
Bellhill Limited, the company that owns and operates Glasgow's Lorne Hotel, has announced that it has collapsed into administration.
The firm has revealed that it has appointed joint administrators Blair Nimmo and Alistair McAlinden from advisory firm Interpath Advisory to manage the process.
In a newly released statement, the administrators stated that the renowned business originally ran into financial troubles in March 2020 when COVID-19 restrictions first came into force.
The statement added that steps had been taken by the company to reduce hotel costs and manage the business' cash flow as the pandemic continued. However, it added that an "adverse legal finding" against the company in May reportedly left the director with “no other option than to place the company into administration.”
The administrators have stated that they are now seeking a buyer for the hotel, which is based in the west end of Glasgow. As well as being a renowned hotel in its own right, it also includes award-winning Indian restaurant Bukharah and the Bilberry cocktail bar. In addition, Lorne Hotel offers extensive conference facilities and a function suite that boasts a capacity of 170 people.
Commenting on the announcement, Mr Nimmo, chief executive of Interpath, said: "The impact of the pandemic and resulting lockdown on companies across the Scottish leisure and hospitality sector has been profound."
Alistair McAlinden, head of the hospitality and leisure sector team for Interpath Advisory in Scotland, added: "We will be looking for a purchaser for the Lorne Hotel and its assets. Ideally situated in the west end of Glasgow and close to the city centre and its attractions, including the Hydro and the Scottish Exhibition Campus, this is an opportunity for a purchaser to acquire an asset with significant potential."
"Find businesses for sale here.
If you are looking for an exit, we can help!"
A boutique hotel located on the North West Coast of England, with sea views and within close proximity to other leisure amenities. The hotel attracts both corporate trade and also weddings and other similar functions with the grade II listed building...
A rare opportunity to present a lucrative lettings company situated on the South Coast. The vendor states a folio comprising some 705 lettings properties producing a handsome £550K net profit.
LEASEHOLD
Presenting a comprehensively refurbished boutique hotel and restaurant, boasting high specification throughout, in a prime town centre position, substantial profits, and fully managed.
FREEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.