Page last updated at 09:41 GMT, Friday, 10 April 2009 10:41 UK

Plan for six-star hotel collapses

Taymouth Castle
The castle sits in 450-acres of Perthshire countryside

Ambitious plans to develop a historic Perthshire castle into Scotland's first ever six-star hotel have collapsed.

Administrators KPMG were called in after the company involved in restoring Taymouth Castle became insolvent.

Work began four years ago on transforming the castle, in Kenmore, into a luxury hotel with 150 rooms and 26 timeshare properties.

It had originally been scheduled to open last year, but work stopped towards the end of 2006.

The castle, which had been visited by Queen Victoria and was once the seat of the Campbells of Breadalbane, had fallen into disrepair before it and the 450-acres estate surrounding it were bought by the Taymouth Group.

The building is now more watertight than before and it is expected that discussions will begin soon on the best way to save what has been described as one of Scotland's most beautiful properties.

A KPMG spokeswoman confirmed that the Taymouth Group Ltd had been declared insolvent.

She said: "I can confirm that Taymouth Group Ltd called in KPMG on 11 March to act as administrators. We are currently looking at options for them."

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