The Staincliffe Hotel in Seaton Carew, near Hartlepool, is looking for a new owner after chef Mark Jones was forced to place the business into administration.
Jones, who bought the hotel in 2007, called in administrators Vantis Business Recovery Services on April 28 due to `financial difficulties`.
“The hotel entered into administration following financial difficulties, however, trading continues," said joint administrator Chris Stevens. "We are working closely with the management team to try to achieve a sale to safeguard the business and its staff.”
The 20-bedroom hotel includes the 64-cover Ocean Restaurant, a 40-cover lounge bar, and two function rooms.
Agents Christie & Co have been appointed to handle the freehold sale of the property. Offers of around £875k are being sought.
David Lee, director at Christie & Co, said: “We expect a substantial amount of interest in this landmark hotel which has superb views over the North East coastline, with a number of viewings having already taken place.”
The Staincliffe was originally built as a private residence and converted into a hotel about 50 years ago. Jones, a former Tees Valley Chef of the Year winner, took over the lease of the hotel in 2003 before buying the freehold in 2007.