Bank of Ireland appoints receiver to Mayo hotel

A RECEIVER has been appointed by the Bank of Ireland to the Welcome Inn Hotel in Castleba.r

The hotel, which had been run by the McHugh family since its establishment in May 1962, entered voluntary liquidation on February 18 last with the loss of 20 full-time and 25 part-time jobs.

It was confirmed at a creditors’ meeting earlier this week that a receivership process, under the direction of Dublin-based firm Baker Tilly Ryan Glennon Limited, was initiated on March 16.  

The receiver, George Maloney, will work with the liquidator, Mayo-based accountant John Mellett, in an effort to recover monies owed to the bank as well as other creditors.

The hotel is likely to be placed on the property market in the coming weeks and, according to informed sources, the McHugh family will be among the leading bidders.

A member of the family already retains ownership of the Fáilte Suite, the hotel’s main function room.

Members of the McHugh family were not available for comment following the creditors’ meeting.

However, sources close to the family said they are hopeful that the hotel could reopen for business ahead of the summer season with a number of jobs being created.