The firm started a £2.4m contract to extend Congham Hall hotel in Norfolk for von Essen in March 2010.

The hotel owner went into administration in April and Ernst & Young has been trying to unravel its complex financial structure and determine how much is owed to unsecured creditors.

The Times said Chalcroft is one of the largest creditors confirmed so far and the company has “exercised its rights within the contract to take possession of the building under refurbishment”.

Chalcroft’s contract involves expanding the restaurant by creating a Bistro area with private dining facilities, constructing new kitchen facilities and creating an additional eight bedrooms.

Chalcroft unveiled positive results last month hitting a turnover of £35m for the 2010/11 financial year with a target of £50m for this year.

Managing Director Mark Reeve said: “Chalcroft is in a financially strong position to take advantage of the market opportunities.

“There’s no doubt that trading has been, and will continue to be, challenging, but we have seen that our expertise has resulted in a large volume of repeat business.

“Our order book is significantly up on last year, and I have every confidence that we shall meet our target.”