# Artisan H1 Limited (03057124)

> Why UK company 03057124 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03057124

- **Status:** In administration
- **Administration began:** 2021-09-03
- **Administrators:** Philip Joseph Dakin, Janet Burt
- **Administrators' firm:** Kroll
- **Formerly:** Artisan Holdings Limited; Currentbuild Limited
- **Incorporated:** 1995-05-16
- **Location:** Manchester
- **Industry:** 55900 Other accommodation

## Why it went into administration

- COVID-19
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance

## From the administrators' statement

The Companies are part of a wider, loosely connected corporate structure known as the Artisan Group. On 31 December 2017, a fire in a car park in Liverpool adjacent to a development owned by Topart and Kings Waterfront (other companies within the Artisan Group) caused major damage to this development. Ultimately the aftermath of this led to the appointment of administrators to Topart and Kings Waterfront on 10 June 2021.

The difficulties experienced by Topart and Kings Waterfront impacted the remainder of the Artisan Group, including the Companies, in particular the pressures placed on working capital and cash generation to service the Group’s ongoing debt commitments.

Furthermore, The Ainscow Hotel (which owns and operates the hotel of the same name and is also part of the Artisan Group) was forced to close during the various lockdowns enforced due to COVID-19. The Ainscow Hotel was one of the more profitable businesses within the Artisan Group and its closure further exacerbated the cashflow difficulties being experienced by the Companies and the wider Group.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03057124/filing-history/MzMxODM2OTE5OWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03057124

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.