A Durham-based hotel has been sold out of administration, securing the jobs of its 40 employees.
Andrew Haslam and Gary Lee of Begbies Traynor were appointed as joint administrators to the Whitworth Hall Hotel on 18 October 2013.
A sale was made to local engineering business Derek Parnaby Cyclones International Limited, following interest from several potential buyers.
Haslam said: “This is great news for customers, staff and creditors of the business.
“With its beautiful location and excellent reputation, we were confident from the start that this popular venue would be snapped up very quickly.
“Our aim was to ensure there was as little disruption as possible during the marketing period in order to preserve the value of the business.
“Having received enquiries from more than 30 potential purchasers, Derek Parnaby Cyclones International Limited was able to provide the best return for creditors as well as offering the hotel, its staff and customers, a brighter future.”
Derek Parnaby Cyclones International Limited owner Adrian Parnaby, said: “My family and I are proud to take over the ownership of this historic property and look forward to working closely with existing management to develop the hotel and grounds in the future.
We are pleased to be able to maintain the existing staff, and fully intend to honour all existing bookings.”
Whitworth Hall Hotel is a popular wedding venue, which also offers two restaurants and a conference and banqueting suite.