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The four-star Udny Arms Hotel in Newburgh, which dates back to 1865 and features 12 bedrooms, fell into administration in December with fears that the business's 40 employees would lose their jobs.
Kevin Mapstone of Begbies Traynor was appointed as administrator of the Udny Arms Hotel Ltd on December 18 by Aberdeen Sheriff Court as the business's former owner experienced difficulties with HMRC.
Two months later, administrators are now hoping they can find a buyer for the Udny Arms when it goes up for sale next week.
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Thomas McKay, of Begbies Traynor, told the Press and Journal, he is confident his firm will find a buyer.
He said: “It’s a significant growth opportunity for anyone who wants to take it forward.
“I’m confident we will find a buyer, someone will find it very attractive. We want to ensure it has another chapter on its journey.
“We will do all we can to find the best possible solution, and to save as many of the local jobs as we can.”
The hotel holds two coveted AA Rosettes for its restaurant and the 60-cover coffee shop, which was fully refurbished in 2023.
The 12 bedroom Udny Arms underwent a major refurbishment three years ago and is listed for sale by Colliers International.
The sale is described as an “excellent opportunity to acquire a high-quality boutique hotel with ancillary coffee shop business”.
McKay explained to the Press and Journal how the business was on the brink of collapse just days before Christmas.
He said: “It’s difficult being appointed administrator of any business just before Christmas… You can appreciate the challenges that had for the family, who had put in so much hard work and private resources…
“It’s a great hotel, the family has invested a lot in it. It’s in a very good condition and really well-supported. This is about securing its future.
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“We came up with a strategy to keep it going, the court approved our strategy continuing to trade as administrators to avoid closure. The family supported that decision to enter administration.”