The much-loved Hestercombe Gardens enters administration
The Taunton estate, known for its historic house and centuries-old gardens, has been struggling with rising costs and fewer guests
A much-loved Somerset visitor attraction has entered administration - but the gates at Hestercombe Gardens are staying open for now.
The Taunton estate, known for its historic house and centuries-old gardens, has been struggling with rising costs and fewer guests.
Administrators Forvis Mazars are now looking at ways to secure its future, including possible restructuring or asset sales.
'Visitor numbers are down'
Mark Boughey, Joint Administrator, said: “despite the passion and commitment of the current management team and following a period of cost cutting and reorganisation, it is sad to see such a popular and loved historic house and gardens left with no alternative but to appoint administrators to protect the assets.
“Visitor numbers are down over the past year and wedding/café operations are failing to deliver the profitability the wider estate requires. Like many businesses, Hestercombe has continued to suffer with increasing cost pressures to operate, leaving the Trustees with little option but to seek the protection of Administration and the support of administrators.
“Hestercombe will continue to remain open and operate normally for the time being, whilst we explore all options for future sustainability”.
'Hestercombe has played a central role in the cultural and social life of Somerset'
Hestercombe Gardens Trust, a registered charity, was established in 1996 to oversee the restoration of the gardens and to protect them for the future.
The Trustees said “Hestercombe, a beloved historic estate and gardens, has played a central role in the cultural and social life of Somerset and beyond. However, despite recent efforts to stabilise its financial position, the Trustees have concluded that the estate is no longer viable under its current operational model.
“The Trustees hope that the appointment of administrators will ensure a structured and professional approach to managing the Trust’s cash flows and assets while exploring potential avenues for future sustainability including a restructuring and/or the sale of assets”.