# 88 ST James's Street (UK) Limited (05397735)

> Why UK company 05397735 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05397735

- **Status:** Administration ended
- **Administration began:** 2011-08-08
- **Administrators:** Robert James Harding, Carlton  Malcolm Siddle
- **Administrators' firm:** Deloitte
- **Incorporated:** 2005-03-18
- **Location:** London
- **Industry:** 7020

## From the administrators' statement

Given the relatively short (48 year) tenure remaining on the Company’s leasehold interest in the Property, the directors of the Company had, for sometime been investigating the options available in respect of maximising value to the Group’s stakeholders

Dunng 2010, following independent advice from its professional advisors, the Company's directors concluded that value for all stakeholders was likely to be maximised through discussions with the freeholder, TCE, to extend the term of the lease

Discussions progressed with TCE focussing on a potential extension of the lease to 125 year duration but an impasse was reached in respect of the value sharing agreement between TCE and the Company Recognising the insolvent position of the Company (on both a balance sheet and cash flow basis) and in order to remove the impasse, the Joint Administrators, who are also appointed over the LLP, were appointed on 8 August 2011 and continue the negotiations with TCE

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05397735/filing-history/MzA0Mzk5Njg2MmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05397735

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