Greenwich INC. Limited (02818037): administration
- Status
- Administration ended
- Administration began
- 2013-11-29
- Administrators' firm
- Grant Thornton
- Formerly
- Riverwood Taverns Limited
- Incorporated
- 1993-05-14
- Location
- Northampton
- Industry
- 56101 Licenced restaurants
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
From the administrators' statement
In June 2012, Frank Dowling, as director of GITL, sought the advice of an insolvency practitioner The advice received was that GITL was insolvent and should be placed into creditors’ voluntary liquidation
Notwithstanding the aforementioned advice, GITL continued to trade for over 12 months and, at the same time, a number of companies were incorporated in Scotland with the intention that these new companies would acquire the trading businesses (examples of which can be seen at paragraph 3 5 above) Further companies appear to have been formed into which the leases owned by the Company were to be transferred A review of the books and records of the Company indicates this did happen in the case of the Admiral Hardy and that no cash was received for the transfer but the process had not concluded on all the leases at the time the Joint Administrators were appointed
The trading businesses were transferred from GITL into the Scottish companies incorporated to run each site and no consideration appears to have been paid to GITL in respect of goodwill, stock and money on site in the form of takings and floats
Administrators' statement of proposals (2014-01-28) · Companies House register