Brooks Hotels and Leisure Limited (05978386): administration
- Status
- Administration ended
- Administration began
- 2014-06-25
- Incorporated
- 2006-10-25
- Location
- Plymouth
- Industry
- 55100 Hotels and similar accommodation
From the administrators' statement
The Company was incorporated on 25 October 2006 and has traded as Barclay House Hotel, Trawlers on the Quay Restaurant and The Plough, Duloe Public House
In recent years the Company invested in a building development at Polvellan House This development over ran on cost and time As a consequence significant sums of money were lost when the development was finally sold as a part completed project
The initial finance which was used to fund the development was due for repayment in September 2012 The repayment could not be made from the anticipated sale proceeds and the Company arranged for further bridging finance in order to complete the project This cycle was repeated several times with finance being provided to repay term finance with interest continuing to accrue
Administrators' statement of proposals (2014-08-15) · Companies House register