Eastlanco Limited (02778270): administration
- Status
- Administration ended
- Administration began
- 2011-10-04
- Administrators
- Tracey Lee Pye, Patrick Alexander Lannagan
- Administrators' firm
- BDO
- Formerly
- Cavice Limited
- Incorporated
- 1993-01-08
- Location
- Manchester
- Industry
- 5530
Why it went into administration
- Funding withdrawn / unable to refinance
- Sustained trading losses
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Competition / price pressure
From the administrators' statement
The Company was incorporated in January 1993 by the Directors, Steven John Alcock and George Alfred Alcock
The Company purchased The Sireburn Arms Hotel (“the Shireburn”) in Hurst Green, Clitheroe, Lancashire for consideration totalling approximately £475k in July 1993. At the time of purchase, the Shireburn comprised an 18 bedroom hotel, restaurant and bar
The purchase was financed by a loan from Caledonian Bank Plc (“Caledonian”) totalling approximately £425k plus equity from the Directors totalling approximately £50k. Caledonian registered a debenture comprising fixed and floating charges over the Company’s assets in September 1993 as secunty
Administrators' statement of proposals (2011-11-25) · Companies House register