The Old Crown Inn Old Dalby Limited (06027029): administration
- Status
- Administration ended
- Administration began
- 2011-11-25
- Administrators
- Anne Clare O'Keefe, Ryan Kevin Grant
- Administrators' firm
- AlixPartners
- Incorporated
- 2006-12-13
- Location
- Manchester
- Industry
- 5540
Why it went into administration
- Sustained trading losses
From the administrators' statement
21 The Company owns and operated a bar and restaurant called The Old Crown Inn, located in Old Dalby, near Melton Mowbray in Leicestershire.
22 Asummary of the Company’s trading performance since April 2008 1s provided tn the table below.
Turnover 190,727 353,964 377,406 346,324 Gross profit 110,664 208,829 224,770 205,273 Gross margin (%) 58% 59% ~ 60% 59% Operating profit/ (loss) 10,833 (18,019) 3,450 (38,910) Loss before tax {15,279} (39,684) (26,047) (80,407) 23 During 2011, the trading losses the Company made during the periods referred to in the table above began to impact the Company’s cash flow. In the Summer of 2011 the head chef left the restaurant to take up another position in an unconnected business. The restaurant continued to trade under the supervision of the sous chef, but it ceased operations during October 2011. The bar remained open for a short period during November 2011, but takings were insufficient to support ongoing trade and to enable the Company to maintain a posttive cash flow Consequently, the directors concluded the business was Insolvent and informed the secured creditor, IBRC Property Lending Limited (formerly Anglo Irish Property Lending Limited) (the Bank), that they could not source alternative funding to support the ongoing on-going losses. Subsequently, the Bank took steps to place the Company in Administration,
Administrators' statement of proposals (2012-01-10) · Companies House register