An iconic wedding and entertainment landmark near Market Harborough has been sold for over £3 million – saving the jobs of 36 staff.
The future of 220-year-old Hothorpe Hall on the edge of the village of Theddingworth was plunged into serious doubt before Christmas after it was forced to go into administration.
But the luxury 55-bedroom venue has now been dragged back from the brink after a deal has been sealed by the historic hall’s Joint Administrators.
And the good news for couples across Harborough looking forward to their big day out at the Georgian manor hall is that all existing wedding bookings will be fully honoured.
The business has been sold for £3.55 million to a new company, Hothorpe Hall (Venues) Limited, part of the KCT Group – a leading Indian conglomerate.
Hothorpe Hall has been sold after a marketing process conducted by Yasmin Bhikha and John Lowe, partners at specialist business advisory firm FRP.
They were appointed as the hall’s Joint Administrators on December 14.
All 36 staff will now work for the new owner.
The buyers plan to reopen the site in line with the Government’s ‘Roadmap out of Lockdown’.
Customers with deposits or booking enquiries should contact: [email protected]
Yasmin Bhikha, director at FRP and joint administrator, said: “The reopening of the UK economy after lockdown couldn’t come soon enough for venues like Hothorpe Hall, which have been hard hit by the pandemic.
“Now, armed with fresh investment and a new ownership team, the venue is gearing up to open its doors once again and welcome guests. “We’re thrilled for all the team and its returning staff and wish them all the best.”