A POPULAR Stirling hospitality venue has collapsed into administration as the cost of living crisis bites.
Business ceased trading at popular wedding spot Broomhall Castle on August 2 and all 12 staff were made redundant after administrators were brought in.
It comes after industry leaders warned soaring interest rates could be the “final straw” for struggling hospitality businesses as the Bank of England made its biggest increase in UK interest rates in 27 years.
The small hotel, which can trace its history back to 1874, had 18 weddings booked up in the coming months as it struggled to get back on its feet following pandemic lockdowns.
Administrator from Begbies, Ken Pattullo said: “It is sad to see the demise of this popular hotel after almost 40 years in business. Unfortunately, the hospitality sector was one of the worst affected by the disruption of the pandemic with the series of lockdowns over the last two years resulting in a significant loss of revenue.
“We are currently in the process of realising any assets we can to provide the best return for creditors, as well as liaising with anyone who has bookings at the hotel to advise them of the situation so that they can make alternative arrangements for their weddings.
"There are currently 18 weddings booked, almost all of which have been secured via credit cards, so these customers should be able to get their deposits reimbursed by the credit card companies.”
