Creditors of the Sharrow Bay Country House Hotel have until Friday if they want to object to the winding up of the business.
Liquidators Michael Fortune and Carl Faulds will deem that consent has been given unless 10 per cent of creditors raise an objection.
The winding up of the company would allow the company’s assets to be sold, creditors paid and any remaining assets to be distributed to partners and shareholders.
It was revealed that the world famous hotel, on the shores of Ullswater, is set to be placed into liquidation on Friday.
A statement of finance shows that the estimated total assets available for preferential creditors is £83,898. The estimated deficiency to creditors is more than £2.3 million.
The hotel was opened in 1948 by the late Francis Coulson, who created the first ever country house hotel along with his partner Brian Sack, who joined him in 1952.
In December, 2003, the hotel was sold to the Von Essen hotel chain for £5 million. The chain later went into administration with debts of nearly £300 million.
The Sharrow Bay was snapped up by a private equity company, London-based Hamilton Bradshaw, run by entrepreneur and former Dragons’ Den investor James Caan, for a knock down £1.5 million in 2012.
In 2013 Andrew Davis, the founder of the Von Essen group, took it on again and invested heavily in the hotel.
