Jamaica Tavern Limited (02694167): administration
- Status
- Administration ended
- Administration began
- 2014-07-23
- Administrators' firm
- Cork Gully
- Incorporated
- 1992-03-05
- Location
- London
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
The Company was established in March 1992 by the two shareholders and directors The main purpose of the Company was the operation of the freehold premises, Dockmasters House, located in West India Dock Gate (“the Premises”) The freehold Premises have been leased to four different organisations during this penod which were all operating within the restaurant industry but had slight differences in their visions Unfortunately all of these organisations had difficulty in trading from the premises and eventually ceased trading
A substantial amount of money was spent refurbishing the Premises which cost £3,000,000 Further financial strains were expenenced during the refurbishment as the subcontracted builders Infit Limited entered into Liquidation prior to the completion of the works and no warranties were obtained There were many contingent labilites and litigation costs totalling approximately £300,000 incurred in pursuing the builders for damages which resulted in an unsuccessful outcome The last leaseholder which utilised the Premises as an Indian restaurant went into Liquidation in February 2014 and the premises have been unoccupied since March 2014
One of the directors, Mr Asif Memon provided the following statement giving his reasoning for the Company entering into Administration
Administrators' statement of proposals (2014-09-29) · Companies House register