# Drum At the Dials Limited (03519161)

> Why UK company 03519161 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03519161

- **Status:** Administration ended
- **Administration began:** 2013-07-22
- **Administrators' firm:** BM Advisory
- **Formerly:** Foldobject Limited
- **Incorporated:** 1998-02-27
- **Location:** London
- **Industry:** 56101 Licenced restaurants

## Why it went into administration

- Rising costs / inflation
- Property / lease costs
- Competition / price pressure

## From the administrators' statement

The Company was incorporated on 27 February 1998 as a café bar and restaurant following a conversion from an empty supermarket in Seven Dials, Brighton. This was funded by a £90,000 cash injection from shareholders.

Due to the success of the restaurant, a second unit was acquired in the Kemp Town area of Brighton tn 2000. As the business grew, a third unit was also acquired in Hove in 2003 and a fourth unit in Fiveways in 2005.

It subsequently transpired that the Fiveways unit was too smali and difficult to operate thereby not achieving the required profitability targets. In addition, the Kemp Town unit did not achieve its profitability targets and a decision was made to sell both units. A sale of the Fiveways unit was completed in 2008 but a deal for the Kemp Town unit unfortunately fell through due to planning conditions and as a result, this unit continued to lose money as the business was nat commercially viable Accordingly, the Kemp Town lease was surrendered in March 2011.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03519161/filing-history/MzA4NTU3ODQxN2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03519161

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