Administrations

KPMG appointed as administrators to Croydon Park Hotel

The Croydon Park Hotel has collapsed into administration, with all 91 members of staff being made redundant.

James Bennett and Steve Absolom from KPMG’s Restructuring practice have been appointed as joint administrators to Kasterlee UK Limited, which traded as Croydon Park Hotel, a four-star hotel with 211 rooms based in the heart of Croydon.

KPMG said while the hotel had been closed to visitors since lockdown measures were introduced in the UK on 23 March 2020, it had been used in recent weeks by the local authority to provide temporary accommodation for key workers, as well as shielded accommodation for vulnerable people in the local community.

However, with that arrangement coming to an end on 14 June 2020, and with the impact of Covid-19 having a significant impact on the company’s cash position, the directors of the business took the “difficult decision” to appoint the joint administrators.

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KPMG said: “Regrettably, all 91 members of staff have been made redundant. The joint administrators are speaking with all employees to provide them with all available support and assistance.

“The joint administrators are now considering their options to realise value for the business.”

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