A Peak District hotel which closed with debts of over £1 million is to reopen later this year under new ownership.
The owning company of the 40-bedroom Izaak Walton Hotel in Dovedale, was placed into liquidation last May, leaving debts of £1 million to unsecured creditors.
The property has now been sold to a new owner, Shropshire-based businessman James Keay, who along with business associate Andy Jeneson plans to breathe new life into the iconic country hotel, which is set in over three acres of picturesque grounds.
Selling agent Anthony Barnes, of leisure property specialists Fleurets, said: “The new owner intends to undertake sympathetic restoration works to help bring the hotel back to life and to recover its country retreat character.
“We are sure the re-launch of this hotel later in the year will be widely welcomed and wish the new owners great success.”