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Richardson Hotels Group enters administration

The Richardson Group, that operates a collection of five hotels, situated along the South Devon and Cornwall coasts, has entered into administration.

Mark Boughey and Matthew Wild from RSM Restructuring Advisory LLP have been appointed joint administrators.

The company's hotels include The Grand Hotel in Torquay, The Royal Beacon Hotel in Exmouth, The Falmouth Hotel in Falmouth, The Fowey Hotel in Fowey and The Metropole Hotel in Padstow.

Each of the five hotels will continue to trade on a business as usual basis while the administrators assess the current financial position and available options.