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
Lawbite
Lawbite is an innovative online company revolutionising legal services by providing ‘Simple Law for Small Companies’.
Unity Wealth Management
"I can’t believe how easy it was, it was just incredible. It probably took me 20 minutes to put together the documents and then Joe went and sourced the finance. I think it was 24 hours in total."