Aqua Italia Limited (07240493): administration
- Status
- Administration ended
- Administration began
- 2019-05-03
- Administrators
- Rachel Hotham, Simon Ashley Rowe
- Administrators' firm
- The Logistics Partnership
- Incorporated
- 2010-04-30
- Location
- Bristol
- Industry
- 56101 Licenced restaurants
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
The Company is a mid-market casual dining group based in 7 locations across the South of England. These include two Bristol sites and one at each of the following: Bath, Portishead, Lewes, Worthing and Milton Keynes. 144 staff were employed by the Company across the 7 sites.
The first Aqua restaurant was established in Bristol] 20 years ago by Richard Smithson. The business was incorporated on 30 April 2010. Having built a solid foundation at the first site the decision was made to expand by opening another site in Bristol. Shortly after this, further sites were opened in Milton Keynes, Portishead and Bath. More recently sites were opened in Worthing and Lewes.
To fund this growth borrowing was sought from the Company's bankers, Barclays Bank Plc ("the Bank"), following various additional lends and restructurings this reached a peak of £1.5million.
Administrators' statement of proposals (2019-05-31) · Companies House register