ADMINISTRATORS have confirmed that they are seeking new owners for a well-known East Lancashire hotel.

One councillor has already voiced hopes that Mytton Fold, in Langho, has a viable future, as one of Ribble Valley’s key assets.

The Whalley Road hotel was built up by the late Frank Hargreaves and his wife Lillian from humble beginnings, starting out as a bed and breakfast in 1982, and is still run by the family.

Part of the Best Western chain, the neighbouring golf course, another long-held dream of Mr Hargreaves, was opened by then-Blackburn Rovers manager Kenny Dalglish in 1994.

But now it has emerged that Mytton Fold Farm Hotel Ltd, the family-run firm responsible for the site, has brought in an advisory firm to market the sprawling complex.

An administrators’ spokesman said: “BDO LLP restructuring partners Kerry Bailey and Lee Causer were appointed joint administrators over Mytton Fold Farm Hotel Limited on October 16.

“The hotel is remaining open while the joint administrators are seeking a buyer for the business.”

Up to 40 full-time and 40 part-time staff have previously been required to run the Mytton Fold.

Cllr Tony Austin, who represents Billington and Langho ward on Ribble Valley Council, said hotel staff had always been “very welcoming” whenever he had attended functions there.

He added: “I’m sorry to hear about this as it’s a very nice place and such as asset for the village.

“The family which runs the hotel has always been involved in the local community and I would hope that Mytton Fold can still continue to trade in future.

“It is also one of the largest employers in the village, I understand.”

According to the limited company’s last accounts, filed in November 2018 and covering a period up to the end of March that year, their current assets total had increased from £223,585 to £239,031 year-on-year.

And the amount owed to creditors, within the year, had dropped from £715,158 to £616,980.

Just under a week before the administrators were called in, two charges on the business, for undisclosed amounts and dating back to April 2013, were both satisfied.

READ > £12.9m hotel and spa resort to open in Burnley

The golf course and club is understood to be run separately from the hotel.

The Best Western chain and the hotel’s management were both unavailable for comment last night.

East Lancashire’s hotel trade is undergoing major upheavals, with the launch today of a 76-room facility at Crow Wood in Burnley, and the sale last week of Stanley House at Mellor.