Town OR Country Limited (05943905): administration
- Status
- Administration ended
- Administration began
- 2018-07-02
- Administrators' firm
- Antony Batty
- Formerly
- NB Property Holdings Limited
- Incorporated
- 2006-09-22
- Location
- Salisbury
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 224 September 2006 and commenced trading in October 2012 providing serviced apartments in the South Hampshire area.
The Company traded successfully up until December 2014 when a new reservation system, guest line, was installed to replace and upgrade the company’s existing system. The implementation was very problematic and the system could not be made to operate successfully. By March 2015 the Company had to fall back on their original reservation system but in the interim period the company suffered loss of sales and reputation.
Prior to this the Company enjoyed a dominant position in the serviced apartment market in Southampton, but this incident significantly eroded this, and together with significant competition from the likes of Aironb and similar companies, with much lower overheads and property costs, the company struggled to maintain profitability and cashflow.
Administrators' statement of proposals (2018-09-07) · Companies House register