Cotswolds-set luxury hotel Barnsley House has been placed into administration despite reports it was trading well in the current economic climate.
Administrators at KPMG were appointed to take over the hotel and two nearby pubs - The Village Pub and The Catherine Wheel - owned by Barnsley House Limited yesterday.
Joint administrator and partner at KPMG Jane Moriarty, said although the business had been performing well, the structure of the company was unsustainable and could no longer continue.
"We are currently continuing to trade all three parts of the business as normal whilst we market the business and assets for sale. It is anticipated that all deposits for bookings will be honoured by a new purchaser," she said.
Seventy people are currently employed on a full and part-time basis across the three businesses. Barnsley House Hotel has 18-bedrooms, a restaurant, bar, spa, conference facilities and a cinema. it is situated opposite the Village Pub, a popular gastropub with seven bedrooms while The Catherine Wheel in the nearby village of Bibury has four bedrooms.
The Cirencester office of hotel agents Colliers Robert Barry is handling the sale of all three properties.