Hotel near Grantham goes into administration
The Olde Barn Hotel at Marston has gone into administration.
The owners of the 103-bedroom hotel near Grantham have called in Diana Frangou and Adrian Allen of RSM Restructuring Advisory as joint administrators to sell the firm.
According to the administrators, owners were forced to place the company into administration due to cashflow pressures.
Diana Frangou said: “Due to cashflow pressures, the directors took the reluctant decision to place the company into administration.
“The Joint Administrators’ intended strategy, with the ongoing support of the existing management and staff, is for the hotel to continue to trade whilst we market it for sale as a going concern.
“We expect that there will be a lot of interest from potential buyers.”
More by this authorGraham Newton