Sarumdale Limited (02546223): administration
- Status
- Administration ended
- Administration began
- 2012-06-13
- Administrators
- Neil John Mather, Kirstie Jane Provan
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1990-10-05
- Location
- Crawley
- Industry
- 56302 Public houses and bars
Why it went into administration
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Sustained trading losses
- Parent or group failure
From the administrators' statement
The Company was incorporated in 1990, with its head office being located in Burgess Hill Its principle activity 1s the management of public houses
The Company has two directors, Mr Rodney Hall and Mr Michael Lloyd, who oversaw the trading of the pubs, each of which was assigned a PAYE employed resident manager The majority of the units had been acquired on a freehold basis, with funding provided by Barclays Bank Plc (‘the Bank")
Begbies Traynor (Central) LLP first became involved with the Company in October 2009, when, following a breach of covenant and new money request, the Bank requested that BTG Restructuring (a division of Begbies Traynor) carry an independent review of the business under a joint duty of care to the Company and the Bank
Administrators' statement of proposals (2012-07-20) · Companies House register