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Highlander Hotel Ltd, which traded as the Lomond Hills Hotel in Fife, Scotland has appointed Begbies Traynor’s Ken Pattullo and Kenny Craig as joint liquidators of its assets.
The property, which is located at the foot of the Lomond Hills in Freuchie, Cupar, is an 18th-Century coaching inn that dates back to 1733 and consists of 24 bedrooms, a public bar and a leisure centre.
News of the liquidation comes as the hotel was impacted by the cost-of-living crisis, which led to a downturn in trade as people have cut their luxury spend.
In addition, the drop in occupancy combined with previous Covid-19 lockdowns, led to cash flow issues that made it difficult to continue trade.
Upon liquidation, the hotel ceased to trade and all 17 employees were made redundant.
The accountancy firm assisted the hotel’s former staff by helping them register claims to the Redundancy Payments Office, as well as access support services from PACE.
Thomas McKay, partner at Begbies Traynor in Scotland, said: “Like many boutique hotels in small villages, the Lomond Hills Hotel has experienced very difficult trading conditions during the challenging winter season.
“Facing a perfect storm of financial pressures, the directors, in consultation with the business’ lenders, made the decision to enter liquidation as the hotel was no longer able to trade. We are currently working with local government bodies to support former employees by ensuring they receive appropriate redundancy advice.”
He added: “After almost 300 years as a coaching inn, we plan to appoint agents to present the hotel for sale in early spring and hope that it will again be able to operate in the hands of new owners.”
