United Kingdom

Details

  • Service: Advisory, Transactions & Restructuring, Restructuring
  • Type: Press release
  • Date: 27/06/2014

Ruthin Castle Limited sold via pre-pack administration 

Paul Dumbell and Brian Green from KPMG’s Restructuring team in Manchester have today been appointed joint administrators of Ruthin Castle Limited, the historic grade II listed hotel and spa situated in Ruthin, North Wales.

A popular wedding venue, the hotel employs approximately 100 staff and comprises 60 en-suite bedrooms, a restaurant, bar and spa. 


Immediately upon appointment, the joint administrators sold the trade and assets of the company via a pre-pack agreement to a joint venture incorporating private equity firm Kepler Capital Ltd, Prima Hotel Group and existing management.


 

The sale ensures that all jobs have been saved, with the hotel now being operated by and branded as a Prima Hotel. Additionally, the new owners have agreed to honour all bookings, including all residential stays, spa bookings and weddings. 


 

Anthony Saint-Claire, a 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.”


 

Paul Dumbell, joint administrator and director at KPMG, added: “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.”


 

ENDS


 

For press queries, please contact:
Katy Broomhead, KPMG Corporate Communications
Tel: 0161 246 4623 / 07824 537963
Email: katy.broomhead@kpmg.co.uk

KPMG Press office: 020 7694 8773

 

About KPMG

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

 

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