October 22 2014 Latest news:
Shaun Lowthorpe, Business editor
Saturday, January 12, 2013
A Norwich-based holiday firm is hoping to breathe new life in a Swaffham hotel after snapping it up from administration yesterday and securing securing 40 jobs.
Administrators PwC confirmed the immediate sale of The George Hotel in Swaffham to the Anglia Hosts division of the The UK Holiday Group Limited hours after it went into administration.
The sale followed a difficult trading period for former owners Arlington Place Hotels Ltd, and another hotel, Heath Court in Newmarket, was sold last year.
Chris Pillar, joint administrator and director at PwC said: “We are delighted to have achieved a sale of The George Hotel in such a short timescale. The sale will provide continuing employment for 40 staff and an ongoing business in the centre of Swaffham.”
Paul Bennett, managing director of the Norwich-based UK Holiday Group said: “The George Hotel has long been an important part of the local community in West Norfolk, and both staff and customers can be reassured that the hotel is now in very safe hands. We are delighted to welcome the George to our growing hotel portfolio, and our investment plans will safeguard its future for many years to come.”
The UK Holiday Group was founded by Mr Bennett in 1983 and is one of the country’s leading privately-owned holiday and hospitality companies. The Group and its associated businesses turnover in excess of £35m a year and employs more than 600 staff in the UK.
One of East Anglia’s largest crane hire companies, Quinto Crane & Plant Ltd, has been bought out in a multi-million pound deal, with the new owner promising to safeguard the jobs for its 125 employees and guaranteeing future investment.