# Bold Hotel (Southport) Limited (00970668)

> Why UK company 00970668 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/00970668

- **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- Funding withdrawn / unable to refinance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.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/00970668/filing-history/MzA0ODAzNzk2MmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/00970668

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.