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News > Business

Pizza Express founder's hotel goes into administration

By Emma Eversham , 20-Feb-2009

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.”

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