Pictou Lodge could have new owner soon

Send to a friend

Send this article to a friend.

Pictou Lodge

An offer has been accepted for Pictou Lodge.

Provided all the paperwork goes through the historic resort, which has hosted such notable persons as Babe Ruth and Condoleezza Rice as well as British Royalty, could have a new owner later this month.

Sources have told The News that the offer which has been accepted was made by Brad Langille, one of the co-owners of the facility before it went into receivership.

Wes Surrett, general manager of the lodge, said he could not confirm whether or not that was true, but said he is happy to hear that he may soon be able to open.

He’s already been busy talking with chefs and other workers in the hopes that the deal will go through.

“It’s great news,“ he said. “I’m doing everything I can to get ready in case this does go through…It does look promising right now.”

The resort was originally built in 1926, and once owned by CN Rail. It was placed under the control of Grant Thorton in February, the official receiver appointed by the Royal Bank. While in receivership the business continued to accept bookings in the anticipation of finding a new owner for the 2013 season.

The oceanside seasonal resort employs more than 60 full-time and part-time staff during full operations.

Over the last several years, under new ownership, the resort has gone though several major upgrades but with the event of an unfortunate fire in June of 2011 in the kitchen, the business was never able to recover from the negative working capital shortage created from the fire.

Substantial cost overruns from the rebuild, challenges with adequate insurance coverage and delays in completing renovations in time for the start of the 2012 season were all blamed for the poor financial position.

Organizations: CN Rail

  • 1
  • 2
  • 3
  • 4
  • 5

Thanks for voting!

Top of page

Comments

Comments