South Quay Travel & Leisure Limited (02420678): administration
- Status
- Administration ended
- Administration began
- 2020-07-20
- Administrators
- Paul David Williams, Edward Robert Bines
- Administrators' firm
- Kroll
- Incorporated
- 1989-09-07
- Location
- London
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Parent or group failure
From the administrators' statement
Asa direct result of the COVID-19 pandemic, the Group had ceased cruising operations and was suffering cashflow difficulties.
Prior to the Appointment Date, Duff & Phelps were engaged by the UK Group to assist with refinancing. ;
On 20 July 2020, despite the Directors best efforts over the preceding months, the board concluded that they were unable to secure a refinance arrangement. As a result, the board - made the decision to place the Company and the UK Group into Administration.
Administrators' statement of proposals (2020-09-25) · Companies House register