Suite Hospitality has collapsed into administration after it failed to successfully close negotiations with landlords and creditors.
The hotel group, which operates sites in Exeter, Windsor and Belper, currently employs 110 staff, the majority of whom have been furloughed throughout lockdown.
Ian Walker and Julie Palmer of Begbies Traynor Group have now been appointed as administrators by its company directors.
Suite Hospitality reportedly suffered a “disappointing” 2019, according to Begbies Traynor, and had previously entered negotiations with major creditors and landlords in a bid to keep the business afloat.
The group later brought in administrators after the discussions reportedly collapsed.
Joint administrator Ian Walker said: “We are working very hard to transfer the business to new owners and preserve as many jobs as possible at the three hotels, including Exeter’s Buckerell Lodge.”
The hotel group operates Buckerell Lodge Hotel in Exeter, Makeney Hall Hotel in Belper and the Harte and Garter Hotel in Windsor.
A statement on all three hotel sites says: “Until such time that we have considered all available options for the Business, we will not be taking any further bookings across any of the group’s hotels in Windsor, Belper and Exeter.
“Any future bookings for rooms, weddings or other events are suspended until further notice.”
Customers who have paid deposits have now been advised to contact the administrators for “further advice and direction”.