# Property Edge Lettings Limited (04227564)

> Why UK company 04227564 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04227564

- **Status:** Administration ended
- **Administration began:** 2012-01-27
- **Administrators:** Anne Clare O'Keefe, Fraser James Gray, Simon Wilson
- **Administrators' firm:** AlixPartners
- **Incorporated:** 2001-06-01
- **Location:** Manchester
- **Industry:** 7012

## Why it went into administration

- Sustained trading losses
- Cash flow / liquidity pressure
- Creditor pressure / legal action

## From the administrators' statement

21 The Company was incorporated on 1 June 2001 and its main activity 1s property development The Company owns a 32 bedroom hotel (the Hotel) and a 22 holiday apartment complex (the Apartments) both located in Bude, Cornwall, as well as six residential flats in Exeter (the Flats)

2.2 The Hotel has been loss-making since trading commenced in June 2011. Market conditions and a lack of pre-opening marketing led to the Company selling heavily discounted deals, resulting in increasing cash pressure

23 The Company's financial position was further compounded when a winding up petition was presented against the Company on 15 July 2011 This was due to be heard on 27 February 2012

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04227564/filing-history/MzA1MzY0MTg3MmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04227564

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