The Baby Grand Hotel Company Limited (01462880): administration
- Status
- Administration ended
- Administration began
- 2011-11-16
- Administrators
- Robert Andrew Croxen, David John Crawshaw, Blair Carnegie Nimmo
- Administrators' firm
- KPMG
- Formerly
- A Way of Life PLC; Inebriated Newt Limited(The)
- Incorporated
- 1979-11-23
- Location
- London
- Industry
- 5510
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
KPMG were contacted by the Bank regarding its exposure to The Scotsman Group in 2010 Since that time the Bank has been seeking to negotiate the repayment of its lending of £512 million with JJW Hotels & Resorts Inc, the ultimate owner of the Scotsman Group
The Scotsman Group owned and operated three hotels through its subsidianes TSHCL, TBGHCL and THS The Bank holds fixed and floating charges over the Scotsman Group assets by way of its cross guarantees and debenture dated 21 September 1999 TBGHCL’s principal asset 1s 42 The Calls hotel, Leeds Prior to administration the Company was loss making and experiencing cash flow difficulties (refer to Appendix 1) On 21 October 2011, a winding-up petition was served against TBGHCL by HM Revenue & Customs in respect of outstanding corporation tax, PAYE and VAT of £192,377
Accordingly, and further to the winding up order served by HM Revenue and Customs, the Bank sought to protect its positron and safeguard the assets of the Scotsman Group by enforcing its security and appointed Administrators to TSHGL on 26 October 2011
Administrators' statement of proposals (2012-01-13) · Companies House register