A Grade II listed hotel and spa located in North Wales has been sold out of administration via a pre-pack deal.
Ruthin Castle Limited entered administration last week. Administrators have confirmed a sale of the business to Ruthin Castle Estates, a newly-formed partnership between private equity firm Kepler Capital, Prima Hotel Group and the existing management.
The hotel employs approximately 100 staff and comprises 60 en-suite bedrooms, a restaurant, bar and spa.
All 100 jobs have been secured and administrators have confirmed all bookings at the venue will be honoured by the new owners.
Paul Dumbell and Brian Green of KPMG were appointed as joint administrators to the company on 27 June.
Dumbell, director at KPMG, said: “In recent years, Ruthin Castle Limited had invested heavily in a substantial refurbishment of the hotel in order to achieve a 4-star listing.
“It is therefore great news that we’ve been able to reach a conclusion which ensures the hotel remains open, and which minimises disruption to staff, suppliers and customers alike.”
Anthony Saint-Claire, director of the new joint venture company, Ruthin Castle Estates Limited, commented: “I am delighted that we have been able to restructure the business and come to an agreement which secures its future trading and the ongoing employment of all staff.”
By John Brazier