Aberystwyth-based five-star hotel and restaurant Gwesty Cymru has announced its permanent closure as a result of the coronavirus pandemic.
It said: “With deep regret – we have had to permanently close the doors to Gwesty Cymru. As a result, we have engaged professional advisors to initiate the process to place the company into liquidation.
“We have always been dependent on spring and summer trade to sustain the business through the winter months. Half of our annual turnover has been lost between April and July alone.”
The establishment added that the “essential social distancing measures” required to reopen, limits its small restaurant and halves its capacity.
The statement added: “Our future room occupancy has also been significantly reduced. We have exhausted all possible scenarios in an attempt to ensure that the business survived, recovered and traded profitably again.
“The combination of lost income, reduced future turnover and considerable outstanding debts on top of ongoing costs make it impossible for the business to operate in a profitable manner.”