The operator of a Nottingham based hotel has entered administration as a result of “cash flow pressure.”
Starfame Limited, which operates The Welbeck Hotel based in the Nottingham city centre, will continues to trade after entering administration
David Bennett and David Dunckley of Grant Thornton UK LLP were appointed joint administrators to Starfame on 3 February.
As the hotel continues to trade as usual, the joint administrators have agreed to honour all deposits and payments in advance for rooms.
Administrators have stated that there are no plans for redundancies, and the jobs of all 14 employees of the hotel are secure.
David Bennett said: “The Welbeck Hotel has traded in challenging economic conditions for a number of years but recent cash-flow pressure has resulted in my appointment as joint administrator.
“The city centre hotel, which is well located for corporate and leisure trade, represents a significant opportunity for any investor to add to their portfolio.”
In the near future, a marketing process for the sale of the freehold hotel will commence.