Ruthin Castle Hotel
17 August 2020
The historic Ruthin Castle Hotel had entered voluntary administration when it could no longer service its debt. Refurbishment plans had overrun and exceeded budget, running to high costs that meant the business was struggling to pay its creditors.
We helped Ruthin Castle Hotel get the finance to save 100 jobs and exit administration.
The hoteliers approached their administrators, who tasked Funding Options with finding the solution that would help the hotel back on its feet.
An alternative approach
The level of debt faced by the hotel meant the mainstream finance providers had no appetite to offer a loan. To add to the challenge, we had to move quickly to keep the trust of the hotel’s creditors, while the business traded through a tough period.
We found a niche lender who was willing to take the castle itself as the main form of security — and a new valuation of the historic property meant the lender could increase the overall value of the loan.
This meant Ruthin Castle Hotel could exit administration under new joint ownership and start afresh — saving over 100 jobs in the process.
GET FUNDING TODAYBusiness Funding UK
Let us help you find the best business finance solutions in the market. We will guide you through the whole process and make sure you get the best deal.
See your Funding OptionsMatch with 120+ Lenders
It’s free to apply and it doesn’t affect your credit score
Expert help throughout the process
Loans from £1000 to £20M
More customer stories
Rhodsac Care Home
"Bryony was excellent. She reacted exactly how I wanted and expected a broker to. She was very knowledgeable, efficient, and understanding and was always there to follow up on the application. She was just brilliant."
Well Life Physiotherapy
International Women's Day is celebrated on 8 March every year. It’s a time to celebrate the social, economic, cultural, and political achievements of women, and raise awareness of the issues around gender equality, reproductive rights, and violence and abuse against women. This year, to champion women in business, we interviewed one of our female-led business customers - Well Life Physiotherapy in Oldbury.