Pauls Care Services Ltd. (03211048): administration
- Status
- Administration ended
- Administration began
- 2019-06-19
- Administrators
- Kerry Bailey, Sarah Megan Rayment
- Administrators' firm
- BDO
- Incorporated
- 1996-06-12
- Location
- Manchester
- Industry
- 87900 Other residential care activities n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
The Company was incorporated on 12 June 1996 and is a non-trading parent company. It owns two freehold properties which were occupied by its two trading subsidiaries, Mapleford (Nursing Home) Limited (‘Mapleford’) and Church View (Nursing Home) Limited (‘Church View’) (together with the Company, ‘the Group’). The properties are located as follows:
Bolton Avenue, Accrington BB5 6HN (‘Mapleford Property’) Princess Street, Accrington BB5 1SP (‘Church View Property’) (together ‘the Properties’)
HSBC Bank Plc (‘the Bank’) provided banking facilities to the Company by way of legal mortgages over the Properties and an overdraft facility. This lending was guaranteed by the two trading subsidiaries.
Administrators' statement of proposals (2019-08-27) · Companies House register