SUBSCRIBE

News > Business

Pizza Express founder's hotel goes into administration

By Emma Eversham , 20-Feb-2009

Related topics: Business

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

Pizza Express founder's hotel goes into administration

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.”

Property of the week

Cambs: MODERNISED FREEHOLD FREEHOUSE

£795,000.00 - Freehold

Attractive and substantial property and lifestyle business situated in the popular and affluent location of...