LRA Realisations Limited (03084650): administration
- Status
- Administration ended
- Administration began
- 2020-07-17
- Administrators
- William James Wright
- Administrators' firm
- KPMG
- Formerly
- Azzurri Central Limited; Gondola Central Limited; ASK Central Limited; ASK Central PLC
- Incorporated
- 1995-07-27
- Location
- London
- Industry
- 56101 Licenced restaurants
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Property / lease costs
- Sustained trading losses
- Weak consumer demand
- Rising costs / inflation
- Over-expansion / investment not recovered
From the administrators' statement
The Company was incorporated on 27 July 1995 and commenced operating in its current form in February 2015, following the acquisition by Bridgepoint. Whilst the Company held the IP for the Ask Italian and Zizzi brands, the 268 UK restaurants were operated by the Company’s wholly owned subsidiary, ARL. The three Zizzi sites in Ireland were operated by another wholly owned subsidiary, ARIL. .
At the date of appointment, the Group was headquartered in London.
Please refer to the SIP 16 disclosure at Appendix 7 for more information on the background of the Company.
Administrators' statement of proposals (2020-08-24) · Companies House register