Buyer sought as East Kilbride hotel goes into administration

Scottish accountancy firm, Johnston Carmichael, has today announced that they have been appointed as administrators for East Kilbride’s Bruce Hotel. The business, which was acquired in October 2007, has run into financial problems with its existing owners, Flagship Hotels (East Kilbride) Limited, suffering from the adverse effects of the current economic climate.

The Bruce, located in East Kilbride’s Cornwall Street is a popular wedding venue with an on-site restaurant, conference facilities and nightclub. The administrators have confirmed that the 65 room hotel which employs 22 people will continue trading in the foreseeable future with no immediate job losses while a new buyer is sought. They also announced that any existing bookings for Christmas and other functions will be honoured.

The administration team is being led by Donald McNaught, Johnson Carmichael’s Glasgow-based Business Recovery & Insolvency Director. He said: “The Bruce Hotel is a solid, multi-dimensional business with good potential. The issue for the existing owners is that they purchased it at the height of the property market and have suffered worsening economic conditions ever since.”

“We believe, however, that this is a very viable hotel and are seeking out any interested parties. It is our intention to continue trading during this process and we hope that we will be able to do so without any immediate job losses.”

Transactional and professional services firm, Christie + Co has been appointed as Marketing Agents.