Leeds Golf Club Limited (00100386): administration
- Status
- Administration ended
- Administration began
- 2020-06-30
- Administrators
- Robert Alexander Henry Maxwell, Richard Kenworthy
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1908-11-24
- Location
- Leeds
- Industry
- 93199 Other sports activities
Why it went into administration
- Property / lease costs
- COVID-19
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated in 1908, with the club having run as an unincorporated entity since 1896. ’ The Company had always leased the land on which its $ gor course is situated; at Elmete Lane, Roundhay, Leeds. .
In 1978, the Company signed its most recent lease with the landowner, Leeds City Council ("LCC’). This was _a 99 year lease and included a £4,000 per annum ground rent. In 2002, the Company paid £1.17m to buy out the ground rent. This was at a time when the Company was trading profitably and generating cash. .
Subsequent to the ground rent purchase, the Company’s trading has gradually deteriorated, in part due to the large. debt incurred.
Administrators' statement of proposals (2020-07-17) · Companies House register