Caer Rhun Hall hotel closed by administrators
NPD acquired the property back 2015 for £1m and opened the hotel in the summer of 2018, however administrators were appointed to the property just a year later by the High Court after issues were raised over the finances of the NPD chain.
The hotel had undergone an extensive, multi-million pound refurbishment, creating 32 bedrooms before administrators were appointed.
A statement from Duff and Phelps read: “The joint administrators for Caer Rhun Hall, part of the Northern Powerhouse Developments Group, have today taken the difficult decision to cease trading at the Conwy Valley hotel, effective immediately. After entering administration on 8 August 2019, the joint administrators, Philip Duffy and Sarah Bell, of Duff and Phelps continued to trade the hotel.
“Unfortunately, due to the financial position of the hotel and a number of health and safety issues on site which cannot be remediated without further funding, this option is no longer viable and for the safety of staff and guests, the hotel has been closed. All staff have been informed this morning and will be paid in full.”
It continued: “There are a number of wedding bookings with the hotel currently and the joint administrators are now liaising directly with those parties to offer a suitable alternative. This is not a decision that has been taken lightly and Duff and Phelps is working closely with all stakeholders to ensure the best outcome at this stage.”