The well-known Leicestershire wedding and entertainment venue, Hothorpe Hall, has been purchased for £3.55m.
The historic venue in Theddingworth, Lutterworth has been successfully acquired by newly incorporated Hothorpe Hall (Venues) Limited, part of the KCT Group of Companies.
The previous owners of Hothorpe Hall appointed Joint Administrators in December of last year, following sustained cashflow difficulties since the start of the coronavirus pandemic.
A deal has now been completed which includes the business and its assets and sees 36 employees transfer under TUPE to the new owner. All existing wedding bookings will also be honoured.
Ed Nurse, Corporate Partner at BHW, led the team supporting the KCT Group of Companies on the deal with specialist advice from Commercial Property Partner, Bev Merrell, and Employment Partner, Amanda Badley respectively.
The new ownership team plan to reopen the venue as soon as possible, in line with the Government’s lockdown roadmap.
David Fothergill, Managing Director of the KCT Group of Companies, said “The legal team that BHW assembled was fantastic and really simplified the multifaceted nature of the acquisition.”
“Ed provided carefully considered and commercially prudent advice that helped us to agree a deal that lays the foundation for a successful future for Hothorpe Hall.”
FRP Advisory acted as Joint Administrators for the previous owners.