As reported by local press, Cumberland and Westmorland Herald, the hotel has planned a resolution to consider folding the venue this Friday (2nd October).
The statement of finance reportedly revealed an estimated total assets available for preferential creditors of £83,898, alongside an estimated deficiency to creditors of over £2.3m.
Currently, both the hotel’s website, booking service and telephone calls are unavailable.
Alison Magee Barker, owner of AJ Lakes Consultancy who previously worked with the Ullswater hotel, called the decision “heartbreaking,” insinuating it could be related to the current difficulties faced by the hospitality industry.
In a tweet earlier today, the hospitality expert said that the liquidation of the “iconic” 1948 hotel was “particularly gutting”, given that in usual (non-pandemic) circumstances, she has a “track record of turning businesses around and adding at least £100k onto revenue.”
As reported by the Herald, Miles MacInnes, chairman of Barton Parish Council, said: “It is very sad. It is a well known hotel that has a lovely position on the shore of the lake.
“It is a bit of an institution, being the first country house hotel. I hope that somebody takes it on and restores it to its former glory.”