New Westcliff Hotel Limited (06543768): administration
- Status
- Administration ended
- Administration began
- 2011-06-06
- Administrators
- Andrew Howard Beckingham, David Smithson
- Administrators' firm
- BDO
- Incorporated
- 2008-03-26
- Location
- Southampton
- Industry
- 5510
Why it went into administration
- Sustained trading losses
From the administrators' statement
The company was incorporated on 26 March 2008 and operates a 2* rated hotel from 27-29 Chine Crescent, Westcliff, Bournemouth, Dorset, BH2 5LB.
The company was financed through loans and an overdraft provided by Ulster Bank Lirmted (“the Bank”) secured by way of a fixed and floating charge debenture dated 25 April 2008 together with a legal charge over the property at 27-29 Chine Crescent, Westcliff, Bournemouth, Dorset, BH2 5LB dated 25 Apnl 2008. During the latter part of May 2011 the Bank contacted this office with concerns that the business was loss making and would exceed their overdraft facility. A bmef review confirmed that the business could not continue with its current debt structure and that there were no other immediate forms of finance available to the business.
On 6 June 2011 a notice of the appointment of Joint Admimstrators was filed in court by Ulster Bank Limited, being a qualifying floating charge holder (QFCH), pursuant to Paragraph 14 of Schedule B1 of the Insolvency Act 1986. David Smithson and Andrew Howard Beckingham were duly appointed Joint Admimstrators Under the provisions of paragraph 100(2) of schedule B1 of the Insolvency Act 1986 the Administrators carry out their functions jointly and severally and neither Administrator has exclusive power to exercise any function.
Administrators' statement of proposals (2011-08-02) · Companies House register