Maray Properties Limited (05398605): administration
- Status
- Administration ended
- Administration began
- 2013-11-28
- Administrators
- Brian Green, Paul Nicholas Dumbell
- Administrators' firm
- KPMG
- Incorporated
- 2005-03-18
- Location
- Manchester
- Industry
- 93110 Operation of sports facilities
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
The Company was 100% owned by Darren Norman and operated as Northop Golf and Country Club, an 18 hole golf course and club house purchased in 2006 In addition to the golf course, the Company’s assets included the Clubhouse which operates as a traditional golf club house, gym and function room, a common parts area which is shared with a number of residential properties and areas of land with various planning permissions for office and hotel development
Funding position
The Company received loans from the Bank totalling £2 9 million secured on various properties owned by both the Company and Darren Norman personally, as well as a fixed and floating debenture over the Company’s assets and a personal guarantee provided by Darren Norman
Administrators' statement of proposals (2014-01-24) · Companies House register