PPH1 Limited (05410412): administration
- Status
- Administration ended
- Administration began
- 2013-11-28
- Administrators' firm
- Deloitte
- Formerly
- Intercede 2036 Limited
- Incorporated
- 2005-04-01
- Location
- London
- Industry
- 74990 Non-trading company
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated in 2005 as a wholly owned subsidiary of PPHO Ltd which was indirectly a joint venture undertaking between Pendragon, (a car showroom operator) and David Maxwell (a private investor who holds a 49% interest in the joint venture through aAim Turbo LLP)
The Company's principal operation was that of real estate investment The Company's property portfolio comprised the Properties, all of which were leased to Pendragon (which in turn sub-let 6 of the Properties) forming approximately one third of Pendragon’s operating estate As such Pendragon was the sole tenant (with the exception of the 6 sites which were sub-let by Pendragon)
Group Structure
Administrators' statement of proposals (2014-01-13) · Companies House register