RNT 2 (UK) Limited (06045890): administration
- Status
- Administration ended
- Administration began
- 2019-02-21
- Administrators
- Situl Devji Raithatha
- Administrators' firm
- Springfields Advisory
- Incorporated
- 2007-01-09
- Location
- Leicester
- Industry
- 56101 Licenced restaurants
Why it went into administration
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 9 January 2007 and in December 2017 it began operating Pizza Hut Franchises under Franchise Agreements with Yum! Il (UK) Limited (“Yum”). Prior to operating the franchises, the Company acted as a holding company for other companies in the group. Five units were opened on 14 December 2017 with a further unit opened in Crookes, Sheffield, on 26 Apri! 2018. A seventh unit was opened at 624 Osmaston Road, Derby, on 20 May 2018.
The Company was part of a group of companies referred to as the RNT Group (“the Companies”), which operated a combined total of seventeen units. The sole director and ultimate beneficial owner of the Companies is Farhat Faheem, who had a wealth of experience in the food industry prior to establishing the businesses. The acquisition, fit out and operation of the units was funded through personal loans, asset finance agreements, a secured joan, and unsecured loans from secondary lenders. There were also intercompany loans between the Companies.
The Companies employed a combined total of 273 members of staff, which included 103 employees of the Company.
Administrators' statement of proposals (2019-03-26) · Companies House register