Ruthin Castle Hotel

The historic Ruthin Castle Hotel had entered voluntary administration when it could no longer service its debt. Refurbishment plans had overrun and exceeded budget, running to high costs that meant the business was struggling to pay its creditors.

Chef prepping food at Ruthin Castle Hotel
Hospitality
Hospitality

We helped Ruthin Castle Hotel get the finance to save 100 jobs and exit administration.

The hoteliers approached their administrators, who tasked Funding Options with finding the solution that would help the hotel back on its feet.

An alternative approach

The level of debt faced by the hotel meant the mainstream finance providers had no appetite to offer a loan. To add to the challenge, we had to move quickly to keep the trust of the hotel’s creditors, while the business traded through a tough period.

We found a niche lender who was willing to take the castle itself as the main form of security — and a new valuation of the historic property meant the lender could increase the overall value of the loan.

This meant Ruthin Castle Hotel could exit administration under new joint ownership and start afresh — saving over 100 jobs in the process.

GET FUNDING TODAY

Business Funding UK

Let us help you find the best business finance solutions in the market. We will guide you through the whole process and make sure you get the best deal.

See your Funding Options

Match with 120+ Lenders

It’s free to apply and it doesn’t affect your credit score

Expert help throughout the process

Loans from £1000 to £20M


More customer stories

Jon from Revive Joinery

Revive Joinery

Revive Joinery manufactures and sells hand-crafted, high-end furniture and fixtures. They specialise in turning sustainable materials into furniture made to an exceptional and unique standard.

Man with folded arms

Body Sculpt Conditioning

Personal trainer Max Jenkins wanted to set up a new gym business in Scarborough. Before coming to Funding Options, he’d already laid the groundwork for his business, but because of changing circumstances and a limited knowledge of what was available in the market, he wasn't sure exactly how much he would need.