Cube Hotels Limited (05092121): administration
- Status
- Administration ended
- Administration began
- 2014-08-01
- Administrators
- Stephen Gerard Clancy, Phillip Francis Duffy
- Administrators' firm
- Kroll
- Formerly
- Euro Estate Limited
- Incorporated
- 2004-04-02
- Location
- Manchester
- Industry
- 7487
Why it went into administration
- Sustained trading losses
- Weak consumer demand
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
The Company was incorporated on 2 April 2004 and has traded the portfolio of three hotels under the Best Western brand. The Company 1s 50% owned by The Lords Group of Hotels Limited and 50% owned by Kingsley Hotels Limited. These two companies are not subject to
any insolvency process,
Historically, the Company had reported losses since incorporation, with sustained losses being reported from the year ending 30 June 2007 as shown in the following table,
Administrators' statement of proposals (2011-04-15) · Companies House register