Tue, 17 May 2011 | BUSINESS SALE
The newly formed company Aspen Leisure has purchased leisure operator Blue Cedars Leisure out of administration.
Blue Cedars, which operated the popular weddings and meetings venue The Mount Hotel & Conference Centre in Wolverhampton, was placed into administration earlier this month.
PricewaterhouseCoopers' Tony Barrell and Matthew Hammond were appointed as joint administrators to oversee the process.
Mr Barrell told Conference and Icentive Travel Magazine, “After an extensive period of marketing the business, using Christie & Co, we are pleased to announce the immediate sale of the Mount Hotel to Aspen Leisure.
“Blue Cedars Leisure faced severe cash flow difficulties due to the current economic climate and had difficulties in meeting its financial obligations. With the support of its key stakeholders the company pursued a sale of the business and assets, which has preserved 56 jobs and allowed one of Wolverhampton’s historic and best loved hotels to continue," he added.
The administrators confirmed that Aspen Leisure will be 'honouring all deposits paid in respect of bookings for future weddings and other events at The Mount Hotel & Conference Centre.'
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