Public houses - case study
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Public houses - case study
Trading Administration of 5 leasehold public houses, resulting in the sale of 5 leases and the repayment in full to the of the secured creditors.
- Sector – Hospitality & Leisure
- Turnover - £1.2m
- Number of employees – 42
Situation
Failed HMRC payment plan resulting in threat to issue winding-up petition. Debenture Holder appointment to protect security.
Approach
Appointed Administrators over a company that owned 5 public houses in the North West. Worked closely with management team and suppliers to stabilise business and continue trading, to facilitate a sale as a going concern.
Profitable trading and successful sale completions of all 5 public houses within 8 months of appointment.
Impact
Public Houses sold for £600k, saving 30 plus jobs, repayment in full to preferential and secured creditors.
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