The Welbeck Hotel and Restaurant, located on Douglas promenade, is set to close permanently next month after 48 years of trading.
In a statement made to Facebook, the George family, who have owned and run the business since it opened in 1978, stated that a combination of family health circumstances and the increasingly challenging business environment climate are the reasons behind the decision. The landmark property will cease operations on November 23.
The family confirmed that all existing bookings will be honoured up until the night of November 22, and reassured all guests with reservations beyond that date that they would be contacted individually and have their deposits refunded in full. Additionally, any vouchers must be used within the next month. The statement also assured suppliers that any outstanding invoices will be settled.
Staff are said to have been contacted, and consultations are taking place with regards to potential redundancies.
The property remains on the market, with an asking price of £995,000.
When announcing the closure, the family said: “Over the past 48 years, the Welbeck has welcomed countless guests, celebrated special occasions and built lasting relationships with visitors and the local community alike. It has been more than just a business to our family, and we are immensely proud of everything it has represented.
“We would like to extend our heartfelt thanks to our dedicated staff, loyal customers, suppliers and the wider Manx community for their support, kindness and loyalty throughout the years.”
They added: “We thank everyone for their patience and understanding as we navigate this incredibly difficult period.”