RNT 3 Ltd (06552722): administration
- Status
- Administration ended
- Administration began
- 2019-02-21
- Administrators
- Situl Devji Raithatha
- Administrators' firm
- Springfields Advisory
- Incorporated
- 2008-04-02
- Location
- Leicester
- Industry
- 47290 Other retail sale of food in specialised stores
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 2 April 2008 and in 2015 it began operating Pizza Hut Franchises under Franchise Agreements with Yum! Ill (UK) Limited (“Yum”). All three of the units operated by the Company opened on 16 February 2015.
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 loan, 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 49 employees of the Company.
Administrators' statement of proposals (2019-03-26) · Companies House register