“no other option than to place the company into administration”.
The hotel, which incorporated the award-winning Bukharah Indian restaurant and Bilberry cocktail bar, ceased trading when Bellhill went into administration. In documents filed at Companies House, joint administrators Blair Nimmo and Alistair McAlinden of Interpath state that the “most likely” exit from administration for the business will be a creditors’ voluntary liquidation, adding that “we propose to seek appointment as liquidators”.
Documents show that the administrators have appointed property agent Christie & Co to market the freehold of the property, which had a net book value at appointment of £11.56 million.
“In tandem with Christies, we are currently preparing the hotel and collating the required information for the sales process, with the intention being to commence the marketing process shortly,” the administrators state.
According to the filings, the sole secured creditor of Bellhill on the appointment of administrators was the Bank of India.
The company had two term loans with the Bank, totaling…
