BREDBURY Hall, until 2010 run by the Flood family and for many years a focus of Stockport’s nightlife, has been placed into administration with debts of nearly £12m.
The 150 bedroom hotel complex, popular as a wedding and event venue, was visited last year by Prime Minister David Cameron who was invited to a reception hosted by chairman and major shareholder Stephen Finch, who runs the £5m turnover business with his son Ross.
Earlier this week, the Manchester office of Duff & Phelps was appointed by the venue’s creditors, who are reportedly owed more than £11m as latest annual figures show a loss of £500,000, according to the latest filed accounts.
Joint administrator Sarah Bell said:
“We can confirm that in conjunction with our appointed agents we are conducting a full financial and operational review of the companies and that whilst this is undertaken Bredbury Hall is still open for business and trading as normal.”
Although the business made an operating profit of £468,000 in the year to the end of April 2013, up from £352,000 the year before, after paying more than £1m in interest it made a bottom-line loss of £543,893.
Dougie Flood was a ‘colourful’ character who also owned Quaffers – a popular nightclub with its raised dance floor and a firm favourite among Stockport’s smart set in the 70s and 80s – along with the Firkin Inn next door – now home to Homebase.
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