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Sefton tight-lipped over Castle Mona devaluation

Valuers say hotel now worth £2.5m

The Sefton Group says it's still seeking a buyer for the Castle Mona Hotel - but refuses to comment on its value being written down.

It acquired the historic property in 2007, and put it on the market in 2011.

The Group was then bailed out by government in 2013, to the tune of £4.5 million.

Figures given to shareholders ahead of this morning's Annual General Meeting (Fri) show a recent quote valued the Castle Mona at £2.5 million - a fall on previous estimates.

While bosses say the figure is 'not up for discussion', Sefton chairman Clive Parrish says he's confident for the Hotel's future: