James Bennett and Steve Absolom from KPMG’s Restructuring practice were appointed joint administrators to Kasterlee UK Limited.
On 15 June 2020, James Bennett and Steve Absolom from KPMG’s Restructuring practice were appointed joint administrators to Kasterlee UK Limited, which traded as Croydon Park Hotel, a four-star hotel with 211 rooms based in the heart of Croydon.
While the hotel had been closed to visitors since lockdown measures were introduced in the UK on 23 March 2020, it had been used in recent weeks by the local authority to provide temporary accommodation for key workers, as well as shielded accommodation for vulnerable people in the local community.
However, with that arrangement coming to an end on 14 June 2020, and with the impact of Covid-19 having a significant impact on the company’s cash position, the directors of the business took the difficult decision to appoint the joint administrators.
Regrettably, all 91 members of staff have been made redundant. The joint administrators are speaking with all employees to provide them with all available support and assistance.
The joint administrators are now considering their options to realise value for the business. Any parties with an interest in purchasing the lease should contact Terri Mulgrew at KPMG as soon as possible and before 26 June 2020.
For further information, please contact:
Katy Broomhead, Senior PR Manager
Tel: 0161 264 4623 / 07824 537963
KPMG Press Office: 020 7694 8773
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