Delphi Properties Limited (05394074): administration
- Status
- Administration ended
- Administration began
- 2013-12-18
- Administrators
- Alan Robert Bloom, Angela Swarbrick
- Administrators' firm
- EY
- Formerly
- DFS Properties Limited
- Incorporated
- 2005-03-16
- Location
- London
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- Funding withdrawn / unable to refinance
- Rising interest rates
From the administrators' statement
The Company ts a real estate holding company which does not trade or have any employees Its primary assets are leasehold / freehold interests in 27 retail and warehouse properties (“the Properties”) which are let to a single tenant (DFS Trading Limited), under 25 year fully repairing and insuring leases, which expire in 2030
The Company ts 100% owned by Delphi Properties Holdings Limited, which we understand !s in turn owned by the Right Honourable, The Lord Kirkham ("Lord Kirkham’), the original founder of DFS Trading Limited The ultimate parent company of Detpht Properties Holdings Limited was formerly Full Circle Future Limited, which is in Members’ Voluntary Liquidation We understand that the liquidators have made a distribution in specie of the shares in Delphi Properties Holdings Limited to Lord Kirkham
The Company used to be part of the DFS group, until 2010 when Lord Kirkham sold his interest in the operating stde of the group Following the disposal, Lord Kirkham retained indirect ownership of the Company, which continued to let the Properties to DFS Trading Limited
Administrators' statement of proposals (2014-02-13) · Companies House register