Moyo Limited (02985647): administration
- Status
- Administration ended
- Administration began
- 2012-03-16
- Administrators
- Kevin Gerald Murphy, Andrew Poxon
- Administrators' firm
- Leonard Curtis
- Formerly
- Ingleby (776) Limited
- Incorporated
- 1994-11-01
- Location
- Bury
- Industry
- 56101 Licenced restaurants
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated in November 1994 Mr John Kisbey has been a director of the Company since March 1998 Mr Stephen Tumer was also director of the Company between October 1998 and November 2009 Following Mr Turner's resignation as director, Mr Peter Nixon was appointed as a director
The Company managed three licensed premises in Bumley, Stoke on Trent and Macclesfield The premises are subyect to leases with Mitchells & Butlers Retails Limited The leases were all long term leases with the earliest due to expire in 2023 The terms and conditions of the leases also requires the tenant to purchase all beers, spints, tobacco, snacks and machines from the brewery
The Company was funded by way of an overdraft facility with Natwest Bank Plc (“Natwest”) which holds secunty by way of a debenture incorporating a fixed and floating charge over all assets created on 20 October 2010 Natwest previously provided an overdraft facility of £100,000 however in January 2012, the Company was notified that the facility was to reduce fo £30,000 immediately with a view to extinguishing the overdraft shortly after
Administrators' statement of proposals (2012-05-14) · Companies House register