UK: The London-based private members’ club, located close to Liverpool Street station, has filed notice of its intention to appoint an administrator.
The Devonshire Club, which opened in summer 2017, includes a 68-room boutique hotel, events spaces, walled gardens, several bars, and the Number Five restaurant.
A buyer of the business, which was scheduled to complete this week, has withdrawn due to the current economic uncertainty and the growing impact on the leisure industry resulting from the coronavirus.
In the immediate period, the directors have submitted a notice of intention to appoint administrators Duff & Phelps in light of the current position.
Co-owner Lord Ashcroft, a former deputy chairman of the Conservative Party, was an early investor in the property.
In 2018, the Mantis Group took over management of the club, appointing Steve Cowie as its general manager.
The Devonshire Club continues to operate as normal.