Cape Cornwall Limited (06432723): administration
- Status
- Administration ended
- Administration began
- 2012-02-10
- Administrators
- Mark Peter George Roach, Simon Edward Jex Girling
- Administrators' firm
- BDO
- Incorporated
- 2007-11-21
- Location
- Counterslip
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
From the administrators' statement
The Company was incorporated on 21 November 2007 with Mr Terence Glazebrook registered as sole chrector, and Mrs Karen Glazebrook as company secretary.
The business was purchased by the Company dunng March 2008 and traded as Cape Cornwall Golf & Leisure Resort from premises near St Just, Cornwall. The property compnises a leasehold golf course operating on a 25 year lease from the National Trust (18 years remaining) and a freehold clubhouse, registered personally in the names of Terence and Karen Glazebrook, including 8 bedrooms and a bar/restaurant.
Regrettably substantial losses of £244,362 were suffered during the first trading penod in the 17 months to Apnl 2009, partly due to the high level of set-up costs on acquisition and the running costs for the Club’s indoor swimming pool (now closed). Whilst there was some improvement in the following year to Apnt 2010, a further loss of £156,918 was suffered, leaving the Company in a cntical financial position.
Administrators' statement of proposals (2012-04-11) · Companies House register