Newultra Limited (02736515): administration
- Status
- Administration ended
- Administration began
- 2021-01-20
- Administrators
- William James Wright, Christopher Robert Pole
- Administrators' firm
- Interpath Advisory
- Incorporated
- 1992-08-03
- Location
- London
- Industry
- 56101 Licenced restaurants
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
- Property / lease costs
- Weak consumer demand
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Sustained trading losses
- Parent or group failure
From the administrators' statement
The Company was incorporated on 3 August 1992. The Company is a wholly owned subsidiary of Dining Street, previously known as Richoux Group Plc, an entity formerly listed on the AIM market.
The Group operated 15 restaurants across London and the South East, under The Broadwick, Richoux, Friendly Phil’s, Villagio and Zintino brands, from its headquarters in Tilehurst, Reading.
The Company was a key trading entity within the Group, operating 13 restaurants and employing 106 staff.
Administrators' statement of proposals (2021-03-26) · Companies House register