Administrators 'exploring options' to find a buyer for Hartlepool's Grand Hotel

In a statement issued today, the latest position on the hotel’s future has been outlined after it was announced that it had closed and staff made redundant.

One of the administrators, Simon Bonney from business advisory firm Quantuma, said: “We are exploring options in relation to the sale of hotels in order to try and secure the re-employment of staff and honour ongoing bookings.”

Mr Bonney and Carl Jackson, also from Quantuma, have been named joint administrators to the six companies each owning a separate hotel which were part of the Shepherd Cox Hotel brand.

The Hartlepool Mail told at the weekend that the Grand Hotel had gone into administration.

As well as The Grand Hotel in Hartlepool, others which were affected were based in Bicester, Darlington, Manchester, Sedgefield and Chesterfield. They employed around 100 people between them.

The statement issued today said that: “On appointment, there were insufficient funds to continue to trade the hotels and the staff at the majority of the hotels have been made redundant.”

It said the business was placed into administration following a court application by a number of investors. Investors had bought hotel rooms that included a guaranteed quarterly rent on the rooms they had purchased, as well as a resale value of 110 per cent of the original purchase price.

Mr Bonney added: “I can confirm that myself and Carl Jackson have been named joint administrators of over six companies following Court Orders for the appointment of Administration.

“We are exploring options in relation to the sale of hotels in order to try and secure the re-employment of staff and honour ongoing bookings.”

After the announcement that the Grand Hotel was in administration, readers told of their shock and sadness at the news.

It also led to Hartlepool MP Mike Hill talking of his hopes that a new buyer could be found.

What are your memories of the hotel? Here is a collection of archive Hartlepool Mail photos showing happier days at the Grand.

To share your own, visit the Hartepool Mail Facebook page or email [email protected].

A message from the Editor:

Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.

In order for us to continue to provide high quality and trusted local news on this free-to-read site, I am asking you to also please purchase a copy of our newspaper.

Our journalists are highly trained and our content is independently regulated by IPSO to some of the most rigorous standards in the world. But being your eyes and ears comes at a price. So we need your support more than ever to buy our newspapers during this crisis.

With the coronavirus lockdown having a major impact on many of our local valued advertisers - and consequently the advertising that we receive - we are more reliant than ever on you helping us to provide you with news and information by buying a copy of our newspaper.