Home to The Pudding Club, the Three Ways Hotel in Mickleton has been bought out of administration
A Mickelton hotel has been bought out of administration in a deal that will save all 56 jobs.
Three Ways Hotel is a 48-bedroom hotel with a bar and restaurant and is famous for its Pudding Club, which promotes the love of traditional desserts. Owners Classic Country Hotels experienced financial challenges throughout the Covid-19 pandemic and struggled to meet its financial obligations which ultimately led to the insolvency.
The hotel had been on sale with offers over £4m being invited.
Specialist business advisory firm FRP was appointed as administrators to Classic Country Hotels on 7th July and a buyer was found for the business. It was bought as a going concern and included the transfer of all 56 employees. The hotel will continue to operate under the Three Ways Hotel name, although who the new owner is has not yet been revealed.
Steven Ross, FRP joint administrator, said: “The hospitality sector has faced significant challenges as lockdown restrictions disrupted regular trading which put long-term pressures on their finances. While the industry is now getting back on its feet, many businesses are still struggling to recover from the past two years.
“This deal... represents a fresh start for what is a popular hotel with a strong client base.”