J. & G. Inns Limited (04600900): administration
- Status
- Administration ended
- Administration began
- 2011-11-14
- Administrators
- Gillian Margaret Sayburn, Andrew D Haslam
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2002-11-26
- Location
- Newcastle upon Tyne
- Industry
- 5510
Why it went into administration
- Cash flow / liquidity pressure
- Weather / natural events
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
From the administrators' statement
The Joint Administrators’ first involvement with the Company was on 20 October 2011 when the Bank invited Andrew Haslam to attend a meeting with Garry Smith and John Welch who were the Directors of the Company at that time
The Company had traded as a hotel operator since 2003 In 2009 the Company first expenenced a downtum in business due to the general economic climate and this was exacerbated by the bad weather over the traditionally busy Chnstmas penod of 2009 In addition that year the Company had taken over the LCA which had increased the cost base
Dunng 2010 the Company expenenced an increase in turnover and was making an operating profit however the profit level was not sufficient to cover the capital investment required to keep the hotels at the desired standard and to make the capital repayments to the Bank, which were a requirement of the business foan
Administrators' statement of proposals (2012-01-03) · Companies House register