03726341 Limited (03726341): administration
- Status
- Administration ended
- Administration began
- 2012-01-03
- Administrators' firm
- SC Advisory Services
- Formerly
- Gemini III Limited
- Incorporated
- 1999-03-04
- Location
- Derby
- Industry
- 5510
Why it went into administration
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Rising interest rates
- Creditor pressure / legal action
From the administrators' statement
The Lace Market Hotel Limited (“LMH”) was incorporated on 4 March 1999 James Blick became the Managing Director in July 2005
The acquisition was funded by The Royal Bank of Scotland (“RBS”) together with substantial personal funds invested by the director. A condition of the provision of finance from RBS was for the Company to take out an interest rate hedge product to limit the rate of interest paid on the finance to a maximum and minimum level
The Company operated out of freehold and leasehold premises situated at 27 and 29-31 High Pavement, Nottingham NG1 iHE, employing 55 members of staff. Prior to the recession, the Company’s business enjoyed healthy trading periods and had a positive reputation in the market
Administrators' statement of proposals (2012-01-20) · Companies House register