The commercial property and insolvency departments at Nottingham based law firm Fraser Brown have worked with liquidators to re-open the iconic Izaak Walton hotel in Derbyshire.
The hotel closed in May 2013 after its owner company was in debt of over £1m to unsecured creditors.
Two Shropshire based businessmen, James Keay and Andy Jeneson are the new owners of the venue, and plan to open by the end of May after a refurbishment. The hotel has 40 en-suite guest bedrooms, two bars, a restaurant, function room, detached five-bedroom domestic living quarters and staff lodge, with over three acres of grounds.
Don Peel and Adrian Slater, of Fraser Brown’s dispute resolution and insolvency departments and Chris Barnes, head of the commercial property department were all involved in this transaction.
Chris said “It is great to be part of a deal involving a landmark hotel in an area that attracts many tourists and visitors. We wish the new owners all the best for the future.”
Begbies Traynor were the liquidators involved, alongside chartered surveyors, Fleurets.