MED Kitchen Properties Limited (05224776): administration
- Status
- Administration ended
- Administration began
- 2012-11-23
- Administrators
- Martha Honara Thompson, Antony David Nygate
- Administrators' firm
- BDO
- Incorporated
- 2004-09-07
- Location
- London
- Industry
- 7487
Why it went into administration
- Creditor pressure / legal action
- Weak consumer demand
- Cash flow / liquidity pressure
- HMRC / tax arrears
From the administrators' statement
MKP and 4S Soho were incorporated on 7 September 2004 and 24 January 2005 respectively The companies operated restaurants under the ‘Med Kitchen’ brand via two teasehold premises, both based in London MKP traded from Old Compton Street (“OCS”) and 4S Soho from Gloucester Road (“GRD”).
Since the economic downturn the restaurants had struggled with the challenging prevailing conditions of increasing commodity costs and decreasing levels of consumer spending.
The companies faced increasing cash flow constraints and accordingly creditor balances increased with c.£250k owed to HM Revenue & Customs (“HMRC”) in respect of historic liabilities On 24 June 2012 HMRC issued winding-up petitions against the compames
Administrators' statement of proposals (2013-01-22) · Companies House register