# Rushden Park & Lakes Development Company Limited (04072003)

> Why UK company 04072003 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04072003

- **Status:** Administration ended
- **Administration began:** 2014-10-23
- **Administrators' firm:** Deloitte
- **Incorporated:** 2000-09-14
- **Location:** Manchester
- **Industry:** 7011

## From the administrators' statement

In August 2010, in order to realise the asset, the Bank appointed LPA Receivers over the asset The LPA Receivers liaised with the Company's directors (who had been actively marketing the Asset for some time) in taking over and supplementing the marketing process

At the conclusion of the marketing process a number of offers had been received for the asset, all of which were submitted on the basis of obtaining a change of use to base the development on a factory outlet mall The majority of the offers submitted were also conditional on the purchaser subsequently obtaining such a change of use except LXB which had submitted a significant unconditional offer After consideration of the downside risks of a planning consent for such a change of use not being achieved, the LPA Receivers agreed with the Bank to accept the offer from LXB

LXB were concerned that the LPA Receivers were not In a position to fully transfer to them the benefit of all the planning work undertaken by the Company They therefore required the Bank to appoint Administrators to the Company to safeguard the position, which led to David John Langton and Matthew James Cowlishaw being appointed as Administrators on 4 Apnil 2011

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04072003/filing-history/MzAzODAzMDcyOGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04072003

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