Eviction notice for company that owns Kettering hotel as Royal goes into liquidation

Entrepreneur Na'ím Anís Paymán, founder of Paymán Investments, who bought the historic Grade II-listed hotel for £2.2m in December 2020 confirmed the company had gone into liquidation.

According to company accounts made up to April 30, 2025 creditors were owed £1,464,874 in one year.

He had been hoping to ‘bring back to life’ the grandee of the Market Place as a weddings venue, community hub and conference space but resigned from his company in June.

Unable to finance his vision, he had set his hopes on a possible collaboration with ‘government bodies’, as well as ‘individual philanthropists or other organisations’.

After a petition was taken to the Insolvency and Companies Court by HMRC, Judge Mullen issued a winding-up order on Wednesday, July 8.

Michael Commins was appointed the official receiver and liquidator of Paymán Holdings 5 Ltd.

A letter from High Court Enforcement in a clear plastic envelope and gaffer taped to street-facing door in the sprawling complex dated July 21 has been issued.

It states the company is being evicted as it has failed to comply with the Order for Possession in which a date to vacate was given.

When contacted by the Northants Telegraph, Mr Paymán referred our reporter to previous statements he had made.

Mr Paymán said: “Our plans for Royal Hotel Kettering include a lot more than it simply being run as a hotel.

"Given the vast amount of space available, we were hoping it could replace the cinema that was recently closed, as well as provide a number of other safe spaces for various community groups to come together in.

"Beyond this, we foresee it becoming a venue for weddings and other personal gatherings, as well as conferences and larger events, drawing footfall to town and supporting other local businesses.

“Unfortunately, due to the current market conditions, we have been unable to raise the financing necessary to bring our vision for the community-friendly future of The Royal Hotel to fruition.”

From November 2022, for 11 months, the bedrooms were used to house asylum seekers – a contract between SERCO, working for the Home Office, and Payman Holdings 5 Limited.

Refurbishment begun during its use as an asylum hotel continued in earnest with Mr Paymán overseeing the complete ripping out of all 43 bedrooms to transform the characterful building into a wedding venue, restaurant, nightclub and café with street-facing shops.

After failing to find a financial backer for his plans, Mr Payman put the hotel up for sale in May 2025 – it was then listed for auction with opening bids set at £1.

The property was withdrawn leaving the hotel unsold – and remains unfinished – five years after Paymán Investments’ purchase.

Rebuilt in 1878, Kettering’s grandest town centre hotel once welcomed Queen Victoria, but the refurbishment project started in 2020, remains unfinished.