Beechtree House Limited (04981704): administration
- Status
- Administration ended
- Administration began
- 2017-10-04
- Administrators
- Simon Robert Thomas, Arron Simon Kendall
- Administrators' firm
- Moorfields
- Incorporated
- 2003-12-02
- Location
- London
- Industry
- 87300 Residential care activities for the elderly and disabled
Why it went into administration
- Funding withdrawn / unable to refinance
- Regulatory change or action
From the administrators' statement
The Company was incorporated on 2 December 2003 and operates a residential care facility from 62 Buckland Road, Maidstone, ME16 OSH (“the Property”). The care home is registered for 24 residents and employed 22 staff at the date of my appointment.
A debenture conferring fixed and floating charges over the Company's assets was granted to Santander UK Plc ("the Secured Creditor’) on 16 September 2010 and registered on 18 September 2010.
The Company has traded for several years offering residential care services from the Property. The Company has been rated as ‘Good’ in the most recent CQC reports. Although the care home had been operating with high levels of occupation, the high proportion of residents funded by the Local Council had resulted in the Company only trading at break-even level and as a consequence, it could bot service the Secured Creditor's debt. Lack of debt serviceability together with facility covenant breaches resulted in the Secured Creditor making formal demand for repayment and then enforcing its security.
Administrators' statement of proposals (2017-12-08) · Companies House register