SA Realisations Limited (03066359): administration
- Status
- Administration ended
- Administration began
- 2019-06-26
- Administrators
- Gareth Prince, Mark Malone
- Administrators' firm
- Begbies Traynor
- Formerly
- SKI Amis Limited; Lanecove Limited
- Incorporated
- 1995-06-09
- Location
- Birmingham
- Industry
- 79110 Travel agency activities
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Brexit
From the administrators' statement
The Company was originally incorporated on 9 June 1995 with the purpose of providing catered ski chalet holidays and self catered ski holidays in the French Alps with its customer base being predominantly UK based. The Company became well established within the ski chalet market and won several awards within the travel industry. The Company was also a member of the Association of Bonded Travel Organisers Trust (ABTOT’). The Company's financial operations were located in Kent in the UK, with a warehouse facility based at Aime in the French Alps. The office in Kent and the French warehouse were both leasehold properties. In addition, the Company had built up a portfolio of twenty chalets across four resorts in the
-3French Alps (La Plagne, La Tania, Les Menuires and Peisey-Vallandry). The chalets were all leasehold. The Company employed several full time staff and also recruited seasonal staff during the busier winter seasons.
During 2018, the Company's previous owners decided to retire and therefore marketed the business for sale. On 14 December 2018, the Company was acquired by Travel Marketing Group Limited (CRN: 116370006) (‘TMG’); which was owned by Andrew Dufty (AD). The funding for the acquisition was provided by way of a secured loan with Thincats Participations Limited (“Thincats’) in the sum of £850k, deferred consideration in the sum of £250k, which was also secured albeit ranking behind ThinCats. In addition, AMD Marketing Limited (AMD) (CRN: 09481185), an entity owed by AD also introduced £275k albeit on an unsecured basis.
Administrators' statement of proposals (2019-07-16) · Companies House register