Chowdhary Limited (07008493): administration
- Status
- Administration ended
- Administration began
- 2013-08-02
- Incorporated
- 2009-09-03
- Location
- London
- Industry
- 56102 Unlicenced restaurants and cafes
Why it went into administration
- Property / lease costs
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 3 September 2009 in the name of Chowdhary Limited and it was incorporated to purchase and operate a salad bar franchise
The franchise package purchased was from the Tossed Partners and the salad bar adopted the trading name and marketing material of “Tossed” In February 2010, the company entered into a 15 year lease for a trading unit situated at 47 Mortimer Street, London, WiW 8HR A rent deposit of £47,411 25 was lodged with the landlord of the property and a rent deposit deed was registered against the company at Companies House on the 19 February 2010
in addition to the funds injected by the director, the company was funded by a loan and overdraft provided by National Westminster Bank plc (“NatWest”) As security for providing this funding, NatWest took a debenture over the company’s assets on 27 September 2010 This debenture created fixed and floating charges over the company’s assets and was also supported by a personal guarantee from the director
Administrators' statement of proposals (2013-08-20) · Companies House register