CAPA has been appointed to conduct audits on a 178-year-old Scottish hotel, famed for pioneering hydrotherapy treatments in the late 1800s, that has now fallen into administration.
FRP Advisory, which is managing the administration of the Glenburn Hotel, has instructed CAPA to undertake a rates audit of the hotel as the corporate restructuring firm looks for a new owner of the historic site.
FRP is looking for a purchaser to acquire a hotel that was built in 1843 on a hilltop site on the Isle of Bute, perched over the Firth of Clyde.
It was believed to be the first ever hotel in Scotland to offer hydropathic treatments when it opened in 1892.
The hotel now has 134 bedrooms, spa and conference facilities and extends to a site covering more than five acres, but it has been closed since November 2020 due to the pandemic.
After the lengthy closure was compounded by extensive running costs for such a large operation, the hotel entered insolvency. Stuart Robb and Chad Griffin of FRP were appointed as joint administrators on August 12.
They have in turn appointed CAPA, meaning CAPA’s Audit team will now deploy bespoke software to conduct a forensic analysis of information on rates paid to the local authority by the hotel.
The team will inspect the data to detect any overpayments, before recovering any overpaid sums for the creditors of Glenburn, on a no-win no-fee basis, as FRP looks to secure the hotel’s future.
