Global Investment Group PLC (03539290): administration
- Status
- Administration ended
- Administration began
- 2011-07-08
- Administrators
- Brian Green, David James Costley-Wood
- Administrators' firm
- KPMG
- Incorporated
- 1998-03-27
- Location
- Didsbury
- Industry
- 7415
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Parent or group failure
- Weather / natural events
From the administrators' statement
Prior to the Administrators’ appointment, the hotels were experiencing cash flow difficulties due to the adverse weather conditions in Winter 2010/11 and a continued downturn in trade at the Hotels
Significant PAYE and VAT arrears were outstanding and HMRC filed a winding up petition on Global which was due to be advertised on 7 July 2011 and scheduled to be heard on 20 July 2011 Global and Llangollen Hotels Limited form part of a VAT group and the HMRC debt 1s joint and several To obtain protection from creditor action that was likely to ensue following advertisement of the winding up petition, it was resolved that Global and Llangollen Hotels Limited should be placed into Administration
5.1
Administrators' statement of proposals (2011-09-06) · Companies House register