Alma De Cuba Ltd (06699300): administration
- Status
- Administration ended
- Administration began
- 2013-06-24
- Administrators
- Timothy James Heaselgrave
- Administrators' firm
- Greenfield Recovery
- Formerly
- Brabco 829 Limited
- Incorporated
- 2008-09-16
- Location
- Birmingham
- Industry
- 56101 Licenced restaurants
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Bad debts / customer insolvency
- Over-expansion / investment not recovered
From the administrators' statement
The Company was set up on 16 September 2008 by the directors and traded throughout its history as a bar and restaurant from premises at St Peters Church, Seel Street, Liverpool, L1
The initial funding for the business was provided by a loan from Lloyds Banking Group (“the Bank’) and a loan from Cotebrook Consulting Ltd, both of whom hold a debenture conferring fixed and floating charges over the assets of the Company
Throughout its history the Company traded well and enjoyed a reputation as a premium bar and quality restaurant in Liverpool The accounts for years 2011 and 2012 show a profit of £99,309 and £100,989 respectively The underlying performance was good, however the recession did impact on the sales and the cash generated The last two years financial performance was undermined by exceptional costs, in particular legal costs
Administrators' statement of proposals (2013-08-16) · Companies House register