The company which was in charge of the Woodside Hotel when it closed for the final time is now set to be wound up, with shareholders looking set to pocket £2.6 million.

The historic hotel announced it would be closing for good in early 2021, with then owners the Sundial Group going into administration.

After the decision, the Sundial Group was criticised by customers who received no formal acknowledgement that their events were being cancelled.

The 74-bed facility was then sold to Archel Homes for £4.95million in January 2022, before being again sold on to Vistry Homes - the current owner.

Sundial Group also put another property, Highgate House, on the market for £6.5million at the time.

When the sale of the hotels was announced, Tim Chudley, managing director at Sundial Group, said to Boutique Hotelier: "We have enjoyed the past 60 years as guardians of these wonderful businesses, and as a family have decided to find the best way to pass on the Sundial legacy to new owners that will invest and continue to employ our wonderful people, hosting memorable meetings and events for our clients.

"We look forward to continuing business as usual in the meantime before handing over to the right new owners for the next phase of the business."

A message which has been displayed on Sundial's website since 2021 (image via The Sundial Group)

But the Woodside Hotel would never open again, with planning permission approved at the second attempt for it to be flattened and turned into houses and flats this year.

And just as that permission was granted, The Sundial Group has voluntarily been wound up.

A notice on The Gazette shows Gavin Bates Liquidator was appointed in September to wind up the company and make a final distribution to creditors.

A statement of assets and liabilities on Companies House shows the Sundial Group had total assets of £2.926 million.

The housing plan for the Woodside Hotel includes a block of flats (image via planning application)

After its debts were settled in full the company was left with a surplus of £2,605,483.

Campaigners over the last three years have continued to call for the hotel to remain open and for Warwick District Council - whose housing company will benefit from the redevelopment - to block any housing schemes there.

But planning permission for the development was ultimately granted in April.

Locals were hopeful earlier this year the scheme had been scrapped, amidst rumours the building was on the market again. But Vistry told Nub News there was "no current update" when asked about the situation in October.