The Great Northern Hotel, bought by Pizza Express founder Peter Boizot in 1993, is put on the market by administrators after the entrepreneur falls victim to the credit crunch
A buyer is being sought for Peter Boizot`s Peterborough hotel The Great Northern after it was placed into administration.
The hotel , adjacent to the town`s railway station, was bought by Pizza Express founder Boizot in 1993, but he was forced to appoint administrators Tenon Recovery on February 4, blaming the economic crisis for the business`s demise.
Joint administrators Tim Dolder and Colin Wilson said the 35-bedroom hotel was continuing to trade while they sought a new owner, in the hope that it could save jobs.
They have appointed agents Christie & Co to sell the freehold for offers in excess of £2.6m. Best and final bids must be made on or before March 16.
Tim Gooding of Christie Co said “The Great Northern Hotel is a Peterborough landmark and is held in great affection locally. There has been a significant amount of interest expressed already and we are hopeful of generating a number of bids for this established business.”