# Project Verde Limited (04565665)

> Why UK company 04565665 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04565665

- **Status:** Administration ended
- **Administration began:** 2020-12-03
- **Administrators:** Phillip Rodney Sykes, Damian Webb
- **Administrators' firm:** RSM
- **Formerly:** Barburrito Limited; Globe Delivery Limited
- **Incorporated:** 2002-10-17
- **Location:** London
- **Industry:** 47290 Other retail sale of food in specialised stores

## Why it went into administration

- COVID-19
- Weak consumer demand
- Funding withdrawn / unable to refinance

## From the administrators' statement

Barburrito Limited was established in 2605 and carnmenced trading as the UK's first Burrito Bar fram its orginal site. Manchester Piccadilly Gardens. in November of that year The Company was founded by Maat Davies and was initially backed by angel investors and a small investment fund, then secured rollout funding from BGF in 2012, BGF hold a second ranking fixed and floatina charge and are owed c£10.3m

The campany grew to 17 trading sites by March 2020 and had a successful franchise relationship with The Restaurant Group ple (TRG) for the latter to operate the Barburrito brand in four UK airports,

Foliowing the initial announcement of a UK lockdown in March 2020 the Company temporarily closed all 17 sites arid TRG terminated the franchise arrangement due to the decline in airport passenger numbers

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04565665/filing-history/MzMzMzI2ODgzNGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04565665

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