# Atlantic Hospitalities Limited (05032298)

> Why UK company 05032298 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05032298

- **Status:** In administration
- **Administration began:** 2008-02-22
- **Administrators:** Steven John Parker, Trevor John Binyon
- **Administrators' firm:** Opus Restructuring
- **Incorporated:** 2004-02-03
- **Location:** London
- **Industry:** 5510

## Why it went into administration

- Property / lease costs
- Weather / natural events

## From the administrators' statement

The Coombe Barton Inn was acquired by the director in 2004 for £265,000 The Company had an initial business plan to upgrade all the rooms, develop the function side of the business and increase turnover within five years to £1 million per annum

The first year of trading resulted in a profit, however the following two years of trading reported a loss One of my colleagues has attempted to bring the accounts up to date to the 31 October 2007 It appears that in the nine month period to the 31 October 2007, the Company again suffered a loss

The losses to the Company were unexpected and mainly have been attributed to the floods suffered in the area in 2004 and 2007 as this affected tourism of the area greatly In addition to the downturn in customers, there were resulting repair works that were necessary to allow the public house to continue trading The director was forced to inject further personal funding of £170,000 to allow for the remedial works and improvements necessary The director additionally attributes the Company's failure to the !essening of popularity of public houses, and the poor Summer experienced tn 2007, coupled with the increase in rent on the premises

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05032298/filing-history/MjAwMjY2NjQ3OGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05032298

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