WISBECH’S landmark Rose and Crown Hotel has gone into receivership and will go up for sale.
Jonathan Davies and his long-term partner Jacqueline Noot, who traded as the Rose and Crown Hotel, entered into Law of Property Act Receivership on Wednesday with RSM Tenon Recovery being appointed as receivers acting on behalf of the mortgage company.
Paul Whitwam, who is the case manager for RSM Tenon, refused to comment on just how much was owed by the couple.
He said Convivial Management Services have been employed to review the hotel to see if it can be sold as going concern.
They would also be re-opening the Tidnams bar, although the hotel itself will remain closed.
Ipswich-based Colliers have been appointed as agents to find a buyer for the listed building and they are in the process of valuing the property.
Mr Whitwam believes it could sell for less than £1 million and there were already interested parties.
“It has real potential and is an opportunity for somebody who has the money to invest in a hotel,” said Mr Whitwam, who added the hotel was in a run down condition and needs bringing back into good health.