The Glenburn Hotel Limited, which owns and operated the Glenburn Hotel in Scotland, has ceased trading and appointed Stuart Robb and Chad Griffin of FRP Advisory as joint administrators.
Originally built in 1843 on a prominent hilltop location overlooking Rothesay Bay on the Isle of Bute, the Glenburn Hotel opened as a classic grand seaside hotel in 1892.
Despite an extensive refurbishment in 2016, and trading briefly since the start of the first lockdown in early 2020, it has been closed since November 2020 and has now gone out of business altogether, citing significant operating costs, coupled with the dramatic fall in revenue due to the Scottish government’s lockdown rules.
The Joint Administrators will begin the process of marketing the hotel for sale and are urging any interested parties to contact FRP Advisory as soon as possible.
All remaining staff will be made redundant with immediate effect, with the administrators keen to ensure that their claims for redundancy and other entitlements due to them are processed as quickly as possible.
Joint administrator, Robb, said: “Unfortunately, having explored all its options, the Glenburn Hotel was unable to survive the significant fall in revenue caused by the COVID 19 pandemic whilst still having to meet significant maintenance and running costs.
“We will now focus our efforts on assisting employees to submit their claims for redundancy whilst preparing to market and sell the hotel. Whilst this is a sad day in the Hotel’s history, this is an outstanding opportunity to acquire an iconic hotel on one of Scotland’s most accessible islands.”