# The Ainscow Hotel Limited (05792799)

> Why UK company 05792799 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05792799

- **Status:** Administration ended
- **Administration began:** 2021-09-08
- **Administrators:** Rebecca Makaruk, Mark Blackman, Andrew Knowles
- **Administrators' firm:** Kroll
- **Formerly:** Artisan Irwell Street Limited; Artisan Shelfco Limited
- **Incorporated:** 2006-04-24
- **Location:** Manchester
- **Industry:** 55100 Hotels and similar accommodation

## Why it went into administration

- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure

## From the administrators' statement

The Company is part of a wider corporate structure known as the Artisan Group. On 31 December 2017, a fire in a car park in Liverpool adjacent to a development owned by Topart and Kings Waterfront (other companies within the Artisan Group) caused major damage to this development. Ultimately the aftermath of this led to the appointment of administrators over Topart and Kings Waterfront on 10 June 2021.

The difficulties experienced by Topart and Kings Waterfront impacted the remainder of the Artisan Group, which in turn was further impacted by the closure of the Hotel during the various Government lockdowns as a result of COVID-19. The Hotel was one of the more profitable businesses within the Artisan Group and its closure further exacerbated the working capital challenges being experienced by the Group, affecting its ability to service the TCF debt.

Prior to the Joint Administrators’ appointments, the designated members and directors of the Group approached TCF with a divestment plan. The plan set out a strategy to dispose of assets within certain Artisan Group entities to reduce the overall indebtedness to TCF and in turn reducing the debt servicing costs across the Group. Given the time required to implement the divestment plan and the issues being experienced across the wider portfolio, The Group continued to experience cash flow difficulties and struggled to maintain the payments due under the TCF facilities.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05792799/filing-history/MzMxODkyMzYxNWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05792799

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