Crazy Bear plans to appoint administrators

Crazy Bear hotel group has filed a notice to appoint administrators after attempts to attract new investment failed. 

 

In documents seen by The Caterer, Crazy Bear said that it planned to appoint Grant Thornton to oversee the administration. 

 

The group, which runs two hotels with in-house restaurants in Stadhampton and Beaconsfield, said it would continue to operate as normal through the administration process.

 

A spokesperson for Crazy Bear Group said: “Crazy Bear Group is in advanced discussions with its key stakeholders in respect of a sale of the business, following a period of formal marketing. 

 

“The group is now working with a preferred counterparty to conclude this exercise and further announcements regarding the sale process will be made when appropriate. 

 

“Crazy Bear is continuing to operate as usual and has a busy schedule planned across Christmas and into the New Year.”

 

In October the hotel group, known for its eclectic designs, said it was seeking new investment as part of plans to reposition the business. At the time managing director Tom Etridge said: "Assuming we get [through] this process in the next few months the way we expect to we will be launching new restaurants in the early part of next year.”

 

The business was reported to be working with Savills to source new long-term capital.

 

Earlier this month, the group also announced that Carlo Scotto would take up the position of chef patron of a new restaurant at the Crazy Bear hotel in Beaconsfield.

 

Bear by Carlo Scotto is due to open in spring 2025 as a chef’s table experience serving a tasting menu of foraged ingredients and seasonal vegetables.

 

It is the first new opening for Scotto since he left London’s Amethyst restaurant in June 2023 due to “differences with his business partners”.

 

Crazy Bear was founded by Jason Hunt in 1993. The original Stadhampton hotel features 23 boutique bedrooms, two restaurants serving a blend of Thai and English cuisine, a bar, terrace and meetings and events spaces for up to 250 guests. The Beaconsfield hotel opened in 2008 and includes 48 bedrooms, two restaurants, a Moroccan-themed bar, outdoor swimming pool and events spaces for up to 150 guests.