Waterfront Hotels (Southport) Limited (06190786): administration
- Status
- In administration
- Administration began
- 2022-09-28
- Administrators
- Sandra Lillian Mundy, Paul Davies
- Administrators' firm
- FRP Advisory
- Formerly
- Bliss Hotels (Southport) Limited; Even Southport Limited; Bestnote Limited
- Incorporated
- 2007-03-29
- Location
- Southampton
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 29 March 2007 and operated as a hotel. It employs 90 members of staff from its site at Waterfront, Promenade, Southport PR9 ODZ.
Its parent company, Waterfront Southport Properties Limited, owns the long leasehold for the hotel from which the Company operates. We have also been appointed administrators over this entity.
The Company’s primary source of funding was provided by ICG- Longbow Senior Secured UK property Debt Investments Limited (the Charge Holder) which was secured by way of a fixed and floating charge dated 22 February 2019. The Company and Waterfront Southport Properties Limited have given cross guarantees to the lender and are both liable to the Charge Holder for the indebtedness. The companies owe £16,211,470.20 to the Charge Holder.
Administrators' statement of proposals (2022-11-30) · Companies House register