Mountview Hotels, which owns Callander hotels The Crags and Abbotsford Lodge, has filed for administration.
The Crags Hotel is a centrally-located terraced Victorian property located at 101 Main Street, with nine letting rooms, a bar and restaurant.
Abbotsford Lodge is a detached villa on the outskirts of Callander, on Stirling Road, comprising 15 letting rooms and a restaurant.
A statement from the administrators explained that while the hotels have historically traded well, they have been hit in recent months by a significant increases in operating costs and the impact of historical liabilities incurred during the pandemic, leading to unsustainable cash flow problems.
Both hotels ceased trading at the end of December and now all four remaining staff have been made redundant.
Joint administrators from FRP Advisory will shortly begin the process of marketing the hotels for sale and are urging any interested parties to contact them as soon as possible.
Michelle Elliot, partner with FRP Advisory, said: “The Crags Hotel and Abbotsford are well known venues within the popular tourist destination of Callander and which have both been recently re-furbished to a high standard.
“Unfortunately, having explored all its options, the company was unable to survive the fall in revenue coupled with the significant increase in fixed costs over recent months.
“We will now focus our efforts on assisting employees to submit their claims for redundancy and other sums due to them whilst preparing to market and sell the hotels.“
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