Ruishton Court Limited (06025604): administration
- Status
- Administration ended
- Administration began
- 2011-05-23
- Administrators
- Julian Pitts, David Frederick Wilson
- Administrators' firm
- Begbies Traynor
- Formerly
- Aalen House Limited
- Incorporated
- 2006-12-12
- Location
- Leeds
- Industry
- 8514
Why it went into administration
- Regulatory change or action
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 12 December 2006 and trades as a nursing home from its premises at Rushton Court, Henlade, Taunton, Somerset, TA3 5LT The sole director and shareholder has always been John Allistone
Following the acquisition of Ruishton Court, the Company commenced trading on 9 November 2007.
Funding for the purchase of Rushton Court was provided by Santander at 85% loan to value The balance of the funding was provided by the director personally. The high loan to value ratio was viable from a trading perspective in the short term, but relied upon the planned extension to the home in two phases to underpin the longer term trading position
Administrators' statement of proposals (2011-07-25) · Companies House register