Bold Hotel (Southport) Limited (00970668): administration
- Status
- Administration ended
- Administration began
- 2013-04-05
- Administrators' firm
- BDO
- Incorporated
- 1970-01-22
- Location
- London
- Industry
- 5510
Why it went into administration
- Sustained trading losses
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
21 The Company was incorporated in 1970 and has been family run since tts inception It owns and operates a 23 bedroom hotel, bar and restaurant business with function facilities on Lord Street in Southport
22 In November 2007, the Company was subject to a buyout. Melton Grange Limited (“MGL”) purchased the share capital of the Company from Mr J Moore. At this time the former directors resigned and the owners of MGL, Edmund Warren (“EW”) and Cheryl Warren (“CW”) were appointed Directors of the Company.
23 The sum of £3.7m was paid for the share capital. The acquisition was funded by a loan from the Royal Bank of Scotland Plc (“the Bank”) of £3m and a directors’ loan of £700k. Both loans were advanced to the Company and the Company subsequently loaned the funds to MGL.
Administrators' statement of proposals (2011-11-29) · Companies House register