Admirable Crichton Limited(The) (01792084): administration
- Status
- Administration ended
- Administration began
- 2019-11-05
- Administrators
- Peter Kubik, Brian N Johnson
- Administrators' firm
- SP Insolvency
- Incorporated
- 1984-02-15
- Location
- London
- Industry
- 56210 Event catering activities
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
The directors advised that the Company had begun to face difficulties due the loss of a large Middle Eastern contract, which had a significant effect on the Company’s cash flow position. The Company was unable to continue trading and advice was sought from UHY Hacker Young LLP.
As explained in the Joint Administrators’ Ictter to creditors dated 11 November 2019, the directors issued three notices of intention to appoint administrators ("NOI’) to the Company. During the period between the second NOI expiring and the third being filed, a creditor purported to present a winding up petition to the Court. There is an argument that the petition is a nullity and should be withdrawn but the petitioning creditor declined to withdraw the petition and in order to avoid unnecessary expense, Brian Johnson and Peter Kubik were appointed Joint Administrators of the Company on 5 November 2019, by the qualifying floating charge holder, Bank of Scotland. The position is that the winding up petition is now suspended while the Company is in administration.
The functions, duties and powers of the Joint Administrators can be carried out by either of them.
Administrators' statement of proposals (2019-12-10) · Companies House register