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Izaak Walton Hotel bought after scandal-hit closure

By Derby Telegraph  |  Posted: April 02, 2014

By Derby Telegraph

Izaak Walton Hotel

Izaak Walton Hotel

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DOVEDALE'S Izaak Walton Hotel is about to be rescued after it was bought by a businessman whose family have stayed there for three generations.

The hotel closed down last year, leaving numerous couples who had booked weddings with no sight of their money and nowhere to hold their big day.

At a meeting in Nottingham last May, the hotel's owner, Thomas Day, met customers and administrators to agree to put the property on the market in an attempt to pay off creditors.

In total, the firm owed more than £1.6 million, of which £650,000 is owed to "secured" creditors who would have first call on any funds, such as the mortgagees of the building.

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Now Shropshire-based James Keay bought the hotel from liquidators on Wednesday.

Geoff Cooksey and his wife Sarah were meant to be getting married at the venue just days before their wedding.

The pair paid £5,000 to the venue but were lucky to have paid on a credit card which meant they were refunded the money.

Mr Cooksey said: “While we were not left out of pocket our thoughts are with those who are.

“We are very happy that it has been sold.

“It was a very difficult time that lead to a wonderful wedding day.”

Selling agent Anthony Barnes, from Birminham-based property specialist Fleurets, which sold the hotel, said: "The Izaak Walton has been a well known and popular hotel and has attracted strong interest throughout the marketing and sales period.

"The new owner intends to undertake sympathetic restoration works to help bring the hotel back to life and to recover its country retreat character.

"He will be supported in the venture by business associate Andy Jeneson with over 20 years experience in the hospitality sector.

"We are sure the relaunch of this Peak Park iconic country hotel later in the year will be widely welcomed and wish the new owners great success.”

The hotel provides 40 individual en-suite guest bedrooms, two bars, a restaurant, function room, detached five-bedroomed domestic living quarters, staff lodge and is set in grounds extending to over three acres.

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