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Southampton's Historic Dolphin Hotel goes into administration

1:30pm Friday 28th November 2008 in


ONE of Hampshire’s most historic businesses has become the latest victim of the recession.

Southampton’s Dolphin Hotel has collapsed into administration.

Home at various times to luminaries such as Jane Austen and Orson Welles, as well as a reputed six ghosts, the long-standing High Street landmark is today welcoming administrators KPMG.

The Grade II listed building, which has 48 staff and sections dating back to 1250 and includes the Bleu restaurant and the Dolphin Tap bar, is still trading while administrators try to organise a sale of the business, which has a turnover of £1.5m a year.

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The 12 businesses set up in the hotel’s Dolphin Lane are unaffected.

Owner Bob Musker said the problems were triggered by the collapse of a deal to build 87 apartments on the hotel car park.

He said: “We sold the option to build them but when it came due the people who’d bought it didn’t complete. They had an option to walk away. They did and that left us short of revenue.

“The hotel has been going well but without that money coming in that was the end of it.

“We have gone into administration to protect us and protect our staff and the business going forward. It is not that bad. It is a sad day but in business the reality is that you have to do it to protect the business going forward.”

A statement from KPMG said: “The hotel has encountered difficulties due the effects of the economic downturn, which have impacted the business. In addition, a planned development of the hotel’s car park has not gone ahead which would have released funds to the business.

“We will now be working closely with the management of the hotel to try to secure a buyer for the business as a going concern. In the meantime it is business as usual for the hotel, bar and restaurant.”

Comments(16)

Adrian Smith says...
10:31am Fri 28 Nov 08

"is today welcoming administrators KPMG"

Welcoming? Poor choice of words.

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Lone Ranger says...
10:43am Fri 28 Nov 08

This time next year.....Dolphin flats!!

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hulla baloo says...
10:45am Fri 28 Nov 08

Having a competition to see how many times they can get the word admin, and variants, into one news story?

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whoamitosay says...
11:06am Fri 28 Nov 08

"The Grade II listed building, which has 48 staff and sections dating back to 1250"

Staff that old couldn't have helped the situation!!!!

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Brock_and_Roll says...
11:19am Fri 28 Nov 08

The hotel "was going well" but needed the money from building flats on its car park to keep going - there is an obvious inconsistency here!!!!

Perhaps we should be pleased that more unneed flats are not being built at present. The hotel will survive - someone will buy it at a price, indeed I will have a look myself and see if I can buy the hotel but not the car park.

Mr Musker will have lost money, thats business - he would have made a killing no doubt from the flats.

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forcaster says...
11:31am Fri 28 Nov 08

I and my Wife stayed at this hotel in 2006.I am not suprised that it is going bust,there had been NO improvements since being built. I am 84 believe some of the staff were older.

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Ian24 says...
12:07pm Fri 28 Nov 08

The flats wont get built to the rear. We will not see many or any more flats in town as it costs more to build than to buy a flat in the city. The developer has done his maths and worked this out as has every other developer in the city and surroundings. The planning approval for 87 flats is worthless the car park will be worth more cash. How times change !!

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southy says...
1:15pm Fri 28 Nov 08

one building the council needs to step in and save it,a 125 0 its worth saving

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Condor Man says...
1:19pm Fri 28 Nov 08

perhaps it could be used as a shelter for all the people likely to lose their homes in the next year?

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Boris Remmington says...
1:37pm Fri 28 Nov 08

QE2 Anchor in the car park, Spitfire on the roof, it will be a wow factor!

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goard says...
2:04pm Fri 28 Nov 08

It is a pity that most Sotonians have no faith in our Council planning - this is our heritage, this is part of the historic wealth of Soton - go ahead Council and your dodgy dealers - we the Southampton people are totally disgusted with your plans. Alright, no money is coming in, yes, we need to make more money, but WHY oh! WHY do you see our antiquities as money making concern - it is not yours to throw away it is OURS. find something else to renovate and expand - how about the Container Ports, the shabbiness of the entrance into Southampton, how about the disgraceful Port of Southampton - it is a matter of putting lovely shoelaces on a pair of old pair of boots - it does not work for us, the Government could not care less, all they want is flats, flats and more flats. Our antiquities are covered with, you guess it, FLATS. Who will stand up to these moguls?

goard

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hulla baloo says...
2:05pm Fri 28 Nov 08

southy wrote:
one building the council needs to step in and save it,a 125 0 its worth saving
Probably do it with their new allowances and perks.

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southy says...
3:33pm Fri 28 Nov 08

and spin doctors ect,hulla baloo,

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Rudd Gillett says...
4:29pm Fri 28 Nov 08

Why not raffle it off like everyone else does nowadays?? Surely the owner could Musker up a few people to buy them?

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obelisker says...
5:07pm Fri 28 Nov 08

I have been using the Dolphin often this year and have always found it very friendly and inexpensive, so I am sad things haven't worked out for the owners, and it will be a great shame if it is turned into yet more bloody flats.

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pauı b says...
1:00pm Sun 30 Nov 08

Any news on the shake up at the echo?

Your always quick to post other peoples problems, but not your own

Hows the merger going?

What about your redundancies?

Hows the outsourcing to india?

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FINANCIAL TROUBLES: The Dolphin Hotel in Southampton’s High Street. FINANCIAL TROUBLES: The Dolphin Hotel in Southampton’s High Street.

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