Ablecrest Limited (02241973): administration
- Status
- Administration ended
- Administration began
- 2014-12-10
- Administrators
- Lila Thomas, David Robert Acland
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1988-04-08
- Location
- Preston
- Industry
- 55100 Hotels and similar accommodation
From the administrators' statement
The Company operated The Carlton Hotel (‘the hotel”), a 58 bedroom hotel equipped with a lounge bar, restaurant and two function rooms located in Blackpool on the North Promenade trading under a franchise held with Best Western Hotels The business was owned and operated by Mr Kirt Patel, Mr Praful Patel and Mrs Shilpa Patel (“the board”) successfully for a number of years
In addition, the Company also owns a small terraced freehold property located on Banks Street, Blackpool (‘the property”) This property was historically operated as a small bed and breakfast but has been unoccupied for some time and requires modification and building works
Over recent years the Company had been expenencing a downturn in trade as operational costs continue to nse As such the board and the shareholders undertook a review into the Company's financial position As a result of the review the Patel family decided to focus their attention on their other business interests and approached the secured creditor, The Royal Bank of Scotland pic (“the Bank”) to discuss a strategy and the disposal of the operating hotel The board hoped that the disposal would be sufficient to discharge the Bank's indebtedness, which amounts to circa £1 tmutlion, in full
Administrators' statement of proposals (2015-02-05) · Companies House register