Latest: Guy's Thatched Hamlet to be sold to business group behind award-winning Lancashire venues
Guy’s Thatched Hamlet is to be sold to a Lancashire-based business who operate a number of award-winning hotels, inns and venues in the region.
Administrators appointed by Guy’s have confirmed an ‘exclusivity arrangement’ has been agreed with Ribble Valley-based Bowland Inns & Hotels Ltd.
The company owns and operates a number of popular hospitality businesses across Lancashire and the North West through its operating company James’ Places, including the award-winning Holmes Mill in Clitheroe, home to Bowland Brewery and the Bowland Beer Hall.
Administrators say they hope to conclude a sale in the coming weeks, subject to contract.
Lila Thomas and Jessica Leeming of Preston-based FRP were appointed as Joint Administrators of Guy’s on Monday, which prompted the sudden and immediate closure of the canal-side venue off the A6 in Bilsborrow, near Preston.
Guy’s had been owned by the Wilkinson family for 46 years and was placed on the market in February last year, but failed to secure a buyer.
‘Challenging trading conditions led to closure’
The decision to appoint administrators was made after the company “experienced financial pressures” in recent months, according to Lila Thomas, Joint Administrator and partner at FRP.
She said “challenging trading conditions within the hospitality and leisure sector” led to the company entering administration on Monday (February 2). This meant it immediately ceased trading and all 94 employees were made redundant.
The administrators say they are supporting those affected with claims to the Redundancy Payments Service, in addition to contacting customers with existing bookings to provide further information and guidance.
They are now assessing the position of the company and exploring a sale of the site to Bowland Inns & Hotels Ltd in a bid to secure it’s future as a hospitality venue.
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‘Sale in the coming weeks’
Lila Thomas, Joint Administrator of Guy’s Thatched Hamlet Limited and partner at FRP, said: “Guy’s Thatched Hamlet is a distinctive venue with a strong local profile and a unique offering.
“Like many businesses operating within the hospitality and leisure sector, the company has faced sustained cost pressures and challenging trading conditions.
“While it was not possible to secure a sale of the business prior to our appointment, the company had entered into an exclusivity arrangement with Ribble Valley-based Bowland Inns & Hotels Ltd to secure the future of this socially and economically important hospitality asset.
“The exclusivity period is intended to allow the legal and due diligence process to progress with the objective of concluding a sale in the coming weeks, subject to contract.
“Our immediate focus is now on supporting affected employees, suppliers and customers as part of the administration process.”
Statement from Guy’s
A spokesperson for the family said: “The closure has been a difficult decision and one made with considerable thought.
“We would like to sincerely thank our customers, staff, and suppliers for their loyalty and support over the years.
“The hamlet has meant a great deal to many people, and as it moves through a period of transition, our focus is on bringing this chapter to a close”.