Published: 31st December 2013
The popular Whitworth Hall Hotel in Spennymoor near Durham has been sold by administrators to Derek Parnaby Cyclones International Limited, saving the jobs of all 40 employees at the venue.
Following their appointment on 18 October 2013, joint administrators Andrew Haslam and Gary Lee continued to operate the 29 bedroom hotel whilst they sought a buyer for the business and assets. Situated in a country park complete with its own herd of deer, the business also boasts two restaurants as well as conference and banqueting suites and is a popular wedding venue.
Derek Parnaby Cyclones International Limited is a locally based engineering business, wholly owned and managed by Adrian Parnaby and his family. Adrian’s father, Derek Parnaby, previously owned the property as a private dwelling between 1980 and 1997.
Adrian commented: “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.”
Joint administrator, Andrew Haslam of Begbies Traynor, commented: “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.”
The hotel agency team at Colliers International, lead by Peter Bean handled the sale on behalf of the Joint Administrators.
Customers are advised to contact the hotel direct on 01388 811772 to enquire about future bookings.
A Chartered Certified Accountant and Licensed Insolvency Practitioner, Gillian has been involved in business rescue recovery and insolvency since 1999. She began her career with KPMG before joining Begbies Traynor’s head office in Manchester, moving to the Begbies Traynor Nottingham office in 2004 before returning to her native northeast to join the newly opened Newcastle office at the end of 2008.
Gillian was involved in the opening of a further northeast office in Teesside in 2010 and now spends her time between the two offices.
She is also an ACCA Northern Counties Panel member.