Club La Costa (UK) PLC (03123199): administration
- Status
- Administration ended
- Administration began
- 2020-11-20
- Administrators' firm
- BDO
- Formerly
- Club La Costa Sales Limited
- Incorporated
- 1995-11-07
- Location
- London
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- Creditor pressure / legal action
- COVID-19
- Property / lease costs
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 7 November 1995 and is part of a wider group of more than 60 entities organised in various jurisdictions (the United Kingdom (‘UK’), Isle of Man, Ireland, Spain, Portugal, Turkey, Curacao, Netherlands and the United States of America (‘USA’)) (‘the Group’). The Company’s immediate holding company is CLC Resort Developments Limited (‘CLC Resort’), which is in turn owned by Glinton Limited (‘Glinton’). Glinton is the Group’s ultimate parent company.
The Group’s main activity is the sale of timeshares and the management of timeshare resorts principally situated in Spain, but also in the UK, Austria, Turkey and the USA. In the UK the Company operated from seven premises. In addition, it operated in Spain as Club La Costa (UK) Plc Sucursal en Espana (‘the Sucursal’), which is a branch of the Company formally registered in Spain, from two further premises.
The Company is the main UK trading entity and acted as a sales vehicle selling timeshare weeks in timeshare resorts. CLC does not own the timeshare properties or have rights to “weeks” in the timeshares as these are held in a separate trust structure for timeshare clients. The sales and marketing functions were carried out in the UK and Spain, partly through employees and partly through self-employed commission only agents.
Administrators' statement of proposals (2021-01-14) · Companies House register