Parkmore Hotel Limited (05327103): administration
- Status
- Administration ended
- Administration began
- 2018-11-14
- Administrators
- Steven Phillip Ross, Allan David Kelly
- Administrators' firm
- RSM
- Incorporated
- 2005-01-07
- Location
- Newcastle upon Tyne
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
Brief background
The brief background has been prepared from information provided by and discussions with the Directors of the Company and is their responsibility. RSM Restructuring Advisory LLP has not carried out any verification and has no liability therein.
The Company was incorporated on 7 January 2005. It is a wholly owned subsidiary of J A Hotels Limited (“JAH”) which purchased the Company during 2006 for c.£6m. The purchase was funded by a combination of bank and vendor debt which is secured over the assets of the Company through cross guarantees. JAH is dormant outside of its investment in the Company.
Administrators' statement of proposals (2018-12-07) · Companies House register