Sandilands Golf Club Limited (04447776): administration
- Status
- Administration ended
- Administration began
- 2014-01-08
- Administrators
- Adrian Peter Berry, Clare Boardman
- Administrators' firm
- Deloitte
- Formerly
- Froveg Property Services Limited
- Incorporated
- 2002-05-27
- Location
- Leeds
- Industry
- 93199 Other sports activities
Why it went into administration
- HMRC / tax arrears
- Sustained trading losses
From the administrators' statement
Trading of The Grange and Links Hotel and Sandilands Golf Club businesses has suffered in recent years, a trend that has been felt across the whole of the leisure sector in provincial East coast resorts during the economic downturn
In November 2012, Deloitte were engaged jointly by the Bank and the Companies to review the businesses, the Directors’ turnaround plan and potential options The profitability was insufficient to meet the cash requirements of the business and a capital repayment holiday was provided by the Bank There were arrears to HMRC and a payment plan in place to reduce their lability over time Subsequent to this review in early 2013 the Directors of the Companies implemented concurrent strategies of engaging a leisure consultant to help them improve trading performance of the businesses whilst instructing agents to market the businesses for sale on a confidential and discrete basis Despite some interest, indicative offers were not at a level acceptabie to the Companies’ Directors and shareholders
The Directors were able to continue to trade the businesses during 2013 by virtue of cash injections from the shareholders and improved trading around the peak summer holiday
Administrators' statement of proposals (2014-02-21) · Companies House register