Guy’s administrators explore sale to James’ Places

Administrators appointed to Guy’s Thatched Hamlet are exploring a sale to secure its future as a hospitality venue and have revealed it had entered an exclusivity arrangement with James’ Places prior to its collapse.

The exclusivity period is intended to allow the legal and due diligence process to progress, with the objective of concluding a sale to the award-winning Ribble Valley hospitality group. The administrators say that could happen in the coming weeks.

The iconic Lancashire canal side hotel and restaurant business closed suddenly this week after nearly five decades of operation.

The owners of the Bilsborrow venue made the announcement online. All 94 workers were made redundant.

Guy’s, which sits just off the A6, has been a popular family destination for 46 years. It was well known for its distinctive thatched roofs and rustic feel and at one time for its famous Oyster Festival.

The hamlet, sitting on a near nine-acre site beside the Lancaster Canal, was home to Guy’s Eating Establishment, Owd Nell’s Canalside Tavern and a 65-room lodge – as well as function rooms and a cricket ground and pavilion.

Lila Thomas and Jessica Leeming of Preston based FRP were appointed as joint administrators earlier this week. In a statement they said: “In recent months, the company had experienced financial pressures arising from challenging trading conditions within the hospitality and leisure sector.”

Guy’s potential new owners are Bowland Inns & Hotels, which owns and operates a number of established hospitality businesses across the rural North West through its operating company James’ Places. The business has been approached for comment.

Its venues including the award-winning Holmes Mill in Clitheroe, home to Bowland Brewery and the Bowland Beer Hall, as well as popular wedding venues Mitton Hall and Eaves Hall in the Ribble Valley.

Lila Thomas, a partner at specialist advisory, restructuring and corporate finance firm FRP, said: “Guy’s Thatched Hamlet is a distinctive venue with a strong local profile and a unique offering.

“Like many businesses operating within the hospitality and leisure sector, the company has faced sustained cost pressures and challenging trading conditions.

“While it was not possible to secure a sale of the business prior to our appointment, the company had entered into an exclusivity arrangement with Ribble Valley-based Bowland Inns & Hotels Ltd to secure the future of this socially and economically important hospitality asset.

“The exclusivity period is intended to allow the legal and due diligence process to progress with the objective of concluding a sale in the coming weeks, subject to contract.”

The joint administrators say they are also supporting people affected with claims to the Redundancy Payments Service, in addition to contacting customers with existing bookings to provide further information and guidance.

Lila Thomas added: “Our immediate focus is now on supporting affected employees, suppliers and customers as part of the administration process.”

The business had been owned by the Wilkinson family for more than four decades and a spokesperson for the family said “The closure has been a difficult decision, and one made with considerable thought.

“We would like to sincerely thank our customers, staff, and suppliers for their loyalty and support over the years. The hamlet has meant a great deal to many people, and as it moves through a period of transition, our focus is on bringing this chapter to a close.”