A picturesque and popular Langho hotel which went into administration last year has been bought by Hyndburn-based Senator International - saving around 40 full-time and 40 part-time jobs.
The firm's chairman, Mr Colin Mustoe MBE, has confirmed that major improvements requiring substantial investment will begin almost immediately and no redundancies are anticipated.
Mytton Fold, which is perfectly situated in six acres of land in Whalley Road, is part of the Best Western Chain. It boasts 43 rooms, a 65-covers restaurant, bar and lounge. The award-winning establishment was run for over 30 years by the Hargreaves family. Lilian Hargreaves came to Langho in 1964 with her late husband, Frank, to oversee the development of Mytton Fold Farm Hotel in the heart of the village. The couple grew the business from a family farm to a popular hotel and leisure complex. It ran into financial difficulties last year and was placed into administration.
Furniture firm Senator International, which is based at Altham Business Park, acquired the hotel in a deal signed yesterday (Thursday).
A spokesman for Senator International said: "Deposits made for future functions prior to administrations will be honoured and this particularly effects wedding bookings. Mr Mustoe asks that anyone concerned should contact the company as soon as possible."