‘Business as usual’, says Richardson Hotels

Richardson Hotels Limited and Fowey Hotel Limited have gone into administration, but the companies say it’s business as usual until further decisions are made.

The companies, which form part of the Richardson Group of hotels, operate accommodation in South Devon and Cornwall. They were placed into administration on 10th January.

The Grand Hotel, famous from Channel 4 television 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’.

All hotels have either three or four stars and are notable for their prominent seaside locations, period architecture and award-winning dining.

Mark Boughey and Matthew Wild from RSM Restructuring Advisory LLP have been appointed joint administrators.

All five hotels will continue to trade on a business as usual basis while the administrators assess the current financial position and available options.

Mark Boughey, a restructuring advisory partner from RSM 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.”

His advice for group travel organisers with an existing booking was as follows: “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.”

For further information visit www.richardsonhotels.co.uk.