THE hunt is on for buyers for a Swindon hotel.

Administrators have been called in to The Liddington Hotel, the venue used by Swindon Town to train its players.

The company which runs the hotel, training and conference centre and employs about 70 staff, is now in the hands of administrators Grant Thornton, which is on the look-out for new owners.

Nigel Morrison and David Matthews, of Grant Thornton, have been appointed joint administrators.

Mr Matthews said: “Since the corporate conference and training centre launched in September 2008, the Liddington has made great strides in signing up corporate accounts due to the superb quality and location of the facility.

“However, the recession has impacted on corporate spend on external training and conferencing.

“The downturn restricted the growth in turnover that was required to cover the overheads and the business simply ran out of cash.

“This presents a tremendous opportunity for a buyer and in the meantime it is very much business as usual.”

The administrators are continuing to trade the company and is looking to sell the business as a going concern.

Christie and Co has been told to market the property and business, while De Vere Venues manage the training and conferencing business on behalf of the administrators.

The hotel is set in 150 acres, five miles from Swindon town centre.

It used to be the conference centre for Zurich and was sold early last year for an unknown amount.

It is a purpose-built conference centre with 200 bedrooms, 45 delegate rooms, two lecture theatres and a restaurant.

It was bought by the Petersham Group of hotels – a separate company which is not affected by the administration.

The group developed the hotel with top designer facilities.

Joanne Taylor-Stagg, the president of the Swindon Chamber of Commerce, said it is always disappointing when a business has to call in the administrators.

“There is no doubt that they had an excellent business which has been a victim of the economic times when in normal trading they would have been fine,” she said.

The property is believed to be worth in the region of £10m.