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Thursday, May 23, 2024

Hotel survives as firm enters administration

It was business as usual at the Vicarage Hotel on Knutsford Road in Cranage this week after its parent company went into administration.

But another establishment run by family-owned Flat Cap Hotels has not been as fortunate. The Courthouse in Knutsford has closed with immediate effect.

Flat Cap’s The Bridge in Prestbury will also continue trading.

A case in the High Court of Justice saw Flat Cap Hotels, of 2, The Old Shippon, Middlewich Road, Cranage, appoint administrator Begbies Traynor of Leeds. The firm’s registered office has now changed to c/o Begbies Traynor, 8th Floor, One Temple Row, Birmingham, B2 5LG.

Flat Cap’s latest unaudited abridged accounts showed it had assets of £15,495,700 but creditors falling due within one year of £14,249,280.

Its profit and loss account was showing a deficit of £7,457,652 for the year, and shareholders’ funds fell from £1,331,948 to a deficit of £341,412.

A spokesperson for Begbies Traynor said: “We can confirm that Flat Cap Hotels Limited, which operates the Bridge in Prestbury, The Vicarage in Cranage and The Courthouse in Knutsford, has entered administration.

“Like many others in the hospitality sector, despite having an excellent reputation and a strong brand, the business has been impacted by a combination of factors, including the pandemic, inflation and the challenging economic environment for consumers.

“Partners at Begbies Traynor have been appointed as joint administrators and the focus is now on stabilising the operating position of the business and exploring future options. The Bridge and The Vicarage will continue to trade as normal, while The Courthouse has ceased trading.”

When the “Chronicle” called on Monday, the response from The Vicarage was that it was “open as normal”.

Flat Cap Hotels was established in 2017 “to safeguard and cherish magnificent grade II listed venues in Cheshire”.

The company opened The Vicarage in 2015 followed by The Courthouse in 2017 and The Bridge in 2018.

The website of The Vicarage, which has 23 bedrooms, states: “The Vicarage sits on the banks of the river Dane, overlooking the stunning Cheshire countryside and blends old with new, featuring architecture dating back to the 1700s as in the old Vicarage to the modern industrial bar, iconic neon signs and surround sound sports bar.

“This grade II listed venue has been perfectly future-proofed by Flat Cap Hotels and contemporarily restored.”

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