Begbies Traynor secures £3m rescue deal for Scottish hotel

Begbies Traynor has completed the sale of the George Hotel in Inveraray, securing the jobs of all 43 staff at the venue.

Joint administrators Kevin Mapstone and Kenny Craig of Begbies Traynor were appointed to Inveraray Inn Ltd, trading as the George Hotel, on 28 March. The 24-room boutique hotel, its contents and an associated residential property have been sold to Charlie Maclachlan and Sam Wignell of Fyne Hospitality for £3.05m.

Partner Thomas McKay, who supervised operations during administration, said the business was traded while a buyer was sought. The one-acre site on the shore of Loch Fyne has been owned by the Clark family for seven generations.

McKay said: “Our team successfully traded the hotel business, whilst our appointed agents delivered a marketing campaign which generated 51 interested parties across the UK. After considerable negotiation, Fyne Hospitality were the successful bid and progressed swiftly through due diligence, completing the transaction within the required timescales.”

He thanked the Clark family, the local community and the hotel’s staff for their support and commitment during the sale process.

McKay added: “Both Charlie and Sam saved a seventh-generation business, a 165-year-old family hotel that is a major contributor to the local and regional economy. This deal provides the best possible outcome in challenging circumstances and saves all jobs in the process.”