Ready Steady Cook Limited (04708189): administration
- Status
- Administration ended
- Administration began
- 2019-05-15
- Administrators
- Andrew James Pear, Richard Keley
- Administrators' firm
- Moorfields
- Incorporated
- 2003-03-23
- Location
- Worthing
- Industry
- 56101 Licenced restaurants
Why it went into administration
- Weak consumer demand
- Property / lease costs
- Management failings / irregularities
- Weather / natural events
From the administrators' statement
The Company was incorporated on 23 March 2003 and has been trading for sixteen years. The director, Andrew Cheesman, was appointed on 19 May 2004.
The Company operated from two trading premises in Brighton, East Sussex; the first being 46-48 Kings Road, named ‘Buddies Café Bar’, and the second being 49-50 Kings Road, named ‘Buddies Fish & Chip Shop’.
The lease for ‘Buddies Fish & Chip Shop’ has approximately four years left to run and is in the personal name of the director. The currently expired lease for ‘Buddies Café Bar’ is held in a company called Buddies (Brighton) Limited, which is wholly owned by the Company. As a condition of granting a new lease, the Landlord required a 25% rent increase from £40,000 per annum to £50,000 per annum, which was not sustainable by the Company.
Administrators' statement of proposals (2019-06-10) · Companies House register