Bistro QUI? Limited (07011663): administration
- Status
- Administration ended
- Administration began
- 2019-02-18
- Incorporated
- 2009-09-07
- Location
- Liverpool
- Industry
- 56101 Licenced restaurants
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
Several months ago, in order to obtain a sale at market value and assist cash flow, the Directors endeavoured to market and self The Hub restaurant. An unconnected purchaser was found, however the sale was delayed for a number of reasons. In the meantime, H M Revenue & Customs began the process of issuing a Winding-up Petition to place the Company into Compulsory Liquidation and in the circumstances, after taking professional advice, it was agreed that the Directors should issue a Notice of Intention to Appoint Administrators, which was filed in Court on 24 January 2019. The Notice protected the Company from any tegal proceedings being issued for 10 business days. As the sale of the Hub was not completed in time, a second Notice of intention to Appoint Administrators was fited in Court on 6 February 2019.
On 12 February 2019 the sale of the Hub was completed and the net proceeds, after settling the secured claim of The Royal Bank of Scotland was paid into the Company’s current account. This amount was heid in trust for the Administrators.
On 18 February 2019 the Directors took steps to place the Company into Administration and an appropriate Notice of Appointment of Administrators was filed in Court, with lan C Brown and John P Fisher, both of Parkin S Booth & Co, appointed as Joint Administrators.
Administrators' statement of proposals (2019-04-04) · Companies House register