The Fleece Hotel in Richmond has closed after being placed in administration, the owners have confirmed.
Staff were told today they were being laid off and that the hotel was shutting, with all Christmas bookings being cancelled.
Peter Coulson, from owners Within Reach Developments Ltd, has tonight confirmed the closure.
In a statement issued to Richmomdshire Today he said that it was with “huge regret” that the Fleece had gone into administration.
He said: “We are very proud that we have lovingly restored every element of the building, and believe that we have truly brought it back to its former glory.
“However, the intricacies of the building and our determination to deliver the highest quality workmanship has meant the build process has ultimately taken longer than planned and we found ourselves launching the business in an unexpectedly difficult economic environment.
“With no viable refinancing route available, we have been forced to make the difficult decision to enter into administration.
“When designing The Fleece, we listened to what the people of Richmond wanted in the form of the cafe and restaurant, and whilst we know we didn’t quite deliver this from the start, we have continued to listen to feedback and amend our offerings in an attempt to get things right.
“With these changes and those planned for the New Year we felt that we were very close, unfortunately we have just run out of time.
“We have benefited from having the most amazing staff (flock) and we are so disappointed for them, however, we have fought hard for the business to thrive and done all we can to protect our staff along the way. We would like to thank every one of them for their commitment and hard work.
“Whilst things have obviously not turned out as we had hoped, we take comfort from the fact that we have restored the building and have no doubt that it will play a key role in Richmond for many years to come.
“Thank you to all our loyal customers and suppliers and we’re so sorry that we just couldn’t quite deliver.”
Items from the hotel were seen being removed yesterday, including the signature cow from the dining room.
The hotel and restaurant only opened this summer following a multi-million pound renovation.