Richardson Hotels Limited and Fowey Hotel Limited, operator of five hotels in South Devon and Cornwall, including the Grand Hotel in Torquay, have been placed into administration.
The Grand Hotel, made famous in the Channel 4 TV show The Hotel and its sister properties The Royal Beacon Hotel in Exmouth, The Falmouth Hotel in Falmouth, The Fowey Hotel in Fowey and The Metropole in Padstow will remain open while administrators ‘assess the current financial position and available options’.
Mark Boughey of RSM Restructuring Advisory LLP, appointed joint administrator with Matthew Wild, said: “We appreciate that there will be a significant degree of concern and uncertainty for staff, guests and suppliers as a result of the companies entering administration. I am pleased to confirm that we will continue to trade all five hotels while we assess how best to proceed, and we will endeavour to update all stakeholders as soon as we can.”
The hotel group, named after owner Keith Richardson, recently re-branded The Grosvenor Hotel in Torquay as the John Burton-Race Restaurant with Rooms. Burton-Race began to work with the hotel in December 2016 to coincide with a six-figure refurbishment and re-brand of the hotel.
The Royal Beacon Hotel in Exmouth was added to the group just last year.
Boughey added: “All of the hotels offer enviable locations, architecture and facilities, so their rooms are in high demand from both existing and new customers. Whilst things are at an early stage, we are therefore hopeful that a long-term future for of all the hotels can be secured.
“In the first instance, we would ask any customers and suppliers to raise their initial questions or enquiries directly to the hotels, booking agent or usual contact point at the Companies.”