MDCT Realisations Limited (07264480): administration
- Status
- Administration ended
- Administration began
- 2020-07-17
- Administrators
- William James Wright
- Administrators' firm
- KPMG
- Formerly
- CDM Trading Limited; Tenfour Ventures Limited
- Incorporated
- 2010-05-25
- Location
- London
- Industry
- 56101 Licenced restaurants
Why it went into administration
- COVID-19
- Property / lease costs
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses
- Weak consumer demand
- Rising costs / inflation
- Over-expansion / investment not recovered
From the administrators' statement
The Company was incorporated on 25 May 2010 and operated as an Italian food-to-go chain with six outlets in central London. The business was acquired by the Group in July 2015 and immediately began to acquire further sites, expanding its presence. ©
At the date of appointment, the business operated 30 sites in the UK, employed 317 staff, and was headquartered | in London. ;
Please refer to the SIP 16 disclosure at Appendix 7 for more ‘information on the background of the Company. ue
Administrators' statement of proposals (2020-08-15) · Companies House register