CRR Realisations Limited (00425057): administration
- Status
- Administration ended
- Administration began
- 2020-07-02
- Administrators
- Catherine Williamson, Clare Kennedy, Daniel Imison
- Administrators' firm
- AlixPartners
- Formerly
- Cafe Rouge Restaurants Limited; The Pelican Group Limited; L. Harris (Harella) PLC
- Incorporated
- 1946-12-05
- Location
- Manchester
- Industry
- 56101 Licenced restaurants
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
Following the UK Government's response to the COVID-19 pandemic, on 21 March 2020 the Companies closed all restaurants to the public to comply with social distancing requirements and the Coronavirus Act 2020.
Whilst some of the Companies’ restaurants continued to trade on a delivery-only basis, revenue generation was significantly reduced. Accordingly, CD Limited engaged AlixPartners UK LLP (AlixPartners) on 7 April 2020 to assist management initially with a review of its business plan and the development of restructuring options.
This work included AlixPartners assisting management to develop a base case 24month review plan, including but not limited to: the review of assumptions used by management in building forecasts; the implementation of additional scenario assumptions with a view to assessing any funding requirements; and conducting a site-by-site review workshop based on a site categorisation exercise. ,
Administrators' statement of proposals (2020-09-09) · Companies House register