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Senator International has purchased Mytton Fold Hotel, which was put into administration late last year.
The venue began life as a bed and breakfast in 1982 and expanded in 1994. It had been seeking new owners since October 2019 after struggling financially.
The Accrington-based furniture firm expects to complete the acquisition without the loss of any jobs. Deposits made for future functions prior to the administration will be honoured, including wedding bookings.
Colin Mustoe, Senator's chairman, confirmed that major improvements requiring substantial investment will commence almost immediately.
The adjacent golf course is believe to be run separately.
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