Arena Tours Limited (02431120): administration
- Status
- Administration ended
- Administration began
- 2022-09-23
- Administrators
- Hugh Francis Jesseman, William Antony Batty
- Administrators' firm
- Antony Batty
- Formerly
- Arena Pilgrimages Limited
- Incorporated
- 1989-10-10
- Location
- London
- Industry
- 79120 Tour operator activities
From the administrators' statement
| was introduced to the Company, on behalf of Antony Batty & Company LLP (“ABc”) by White Hart Associates (London) Limited (“WHA”) in mid-September 2022. ABc were formally instructed on 21 September 2022. Prior to the commencement of the Administration, advice was given to the Board as a whole, acting on behalf of the Company, about the Company’s financial difficulties and the options available to the Company to help determine an appropriate course of action to take. No advice was given to the individual directors regarding the impact of the insolvency of the Company on their personal financial affairs. Whilst not formally in office at that time, all work was undertaken in accordance with the Insolvency Code of Ethics.
During the period immediately prior to my appointment, | was liaising with the Company in order to determine if it may be possible to sell the Company’s business and assets as a going concern, ona prepack basis.
With clients who were abroad on tours, and with over 500 clients due to travel during the week commencing Saturday 24 September 2022 on holidays which some suppliers had not been paid for, it was apparent that unless the business could be sold by that date, that the holidays would have to be cancelled. If holidays were cancelled, traditional and social media reporting would be likely to destroy or significantly reduce any “goodwill value” in the Arena brands. This meant that a sale must be completed within 48 hours.
Administrators' statement of proposals (2023-05-03) · Companies House register