Sat, 30 Nov 2013 | BUSINESS SALE
Business at Whitworth Hall Hotel in Spennymoor has been saved after Derek Parnaby Cyclones International Ltd bought the business out of administration.
Around 40 jobs have been saved as a result of the acquisition, which will see all staff kept on and existing bookings honoured.
Whitworth Hall entered administration back in October, when Begbies Traynor were brought in to handle the running of the Best Western hotel. The administrators took over the management of the hotel, its two restaurants, conference and banqueting facilities, while placing the business on the market as a going concern with Colliers International.
The buyer is an engineering company that was founded by Derek Parnaby. His son, Adrian Parnaby, has said that he is proud to take on the hall: “I look forward to working closely with existing management to develop the hotel and grounds in the future. We are pleased to be able to maintain the existing staff, and fully intend to honour all existing bookings.”
The acquisition has a personal significance for the buyer as well as until 1997 Derek Parnaby owned Whitworth Hall as a private dwelling.
Begbies Traynor reportedly received more than 30 enquiries from potential buyers of the hall, but Derek Parnaby Cyclones International was seen as the best choice for creditors, staff and customers.
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