Fri, 21 Mar 2014 | ADMINISTRATION
The Stockport-based Bredbury Hall hotel and entertainment complex has gone into administration with debts of £12 million, it has been announced this week.
The hotel and country club, which is set in seven acres of Goyt Valley parkland a couple of miles from Stockport town centre, consists of a 150-room hotel, a restaurant, a nightclub and a conference centre. It appointed Duff and Phelps as administrators on Tuesday after it began making a loss having become burdened with large debts.
Administrators have stated that the company will continue to trade as normal while a full review is conducted and options for Bredbury Hall’s future are assessed. Last year the hotel, which opened in 1812, recorded a loss of over £500,000, according to its annual accounts, while it is reported that the complex is struggling with £12 million of debt.
However, the hotel and club is said to still be doing good trade; its losses last year came as a result of the £1 million it paid in interest – Bredbury Hall actually made a profit of £468,000, up from £352,000 in 2012.
Manchester’s millionaire Flood family had owned Bredbury Hall until 2010. The current owner, Stephen Finch, has called in Sarah Bell and David Whitehouse to act as administrators on behalf of the restructuring firm Duff and Phelps.
Sarah Bell said: “We can confirm that in conjunction with our appointed agents we are conducting a full financial and operational review of the companies and that whilst this is undertaken Bredbury Hall is still open for business and trading as normal.”
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