Stonebeach Limited (04396961): administration
- Status
- Administration ended
- Administration began
- 2019-01-22
- Administrators' firm
- KPMG
- Incorporated
- 2002-03-18
- Location
- London
- Industry
- 56102 Unlicenced restaurants and cafes
Why it went into administration
- HMRC / tax arrears
- Management failings / irregularities
- Creditor pressure / legal action
- Sustained trading losses
- Parent or group failure
From the administrators' statement
Stonebeach Limited was incorporated on 18 March 2002 and had been the principal trading subsidiary of the Group, operating the Patisserie Valerie, Druckers Vienna Patisserie and Baker & Spice businesses.
The Company was the largest trading entity in the Group, but had no employees as employee contracts were held in the name of Patisserie Holdings Plc. Its registered office was located at the Group’s head office on Sarehole Road in Birmingham.
In October 2018, following the presentation of a petition by HMRC to wind up the Company, it was discovered that material accounting misstatements had been made in the Group’s audited accounts.
Administrators' statement of proposals (2019-03-29) · Companies House register