17 August 2020
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.
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.
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.
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Mother Goose were looking for funding to add a new café to their interiors retail store. From traditional shop fitting like display cabinets and EPOS systems to catering equipment like refrigerators and ovens, they needed funding to make it happen.
"I've been impressed with Funding Options. They took the time to really understand our requirements and have connected us with funding providers who have taken a commercial and flexible approach. I have recommended them on several occasions and will continue to do so."