Continental Bistro Limited (07422188): administration
- Status
- Administration ended
- Administration began
- 2014-02-14
- Incorporated
- 2010-10-28
- Location
- Rotherham
- Industry
- 56101 Licenced restaurants
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Management failings / irregularities
- Bad debts / customer insolvency
From the administrators' statement
The company was incorporated in 2010 in order to operate a restaurant business known as ‘Le Bistro Des Amis’ in Skipton The business commenced trading in December 2010 and initially it traded with a degree of success, with the director acting as ‘chef patron’ and utilising his experience in the restaurant trade to create an informal bistro-style restaurant The bistro is located adjacent to the High Street in Skipton and the town's appeal to tourists and visitors meant that the business catered for a consistently high number of customers throughout the year
In order to assist with the administrative burden of running the business, in January 2013 the director engaged the services of an accountant to act as the company’s management accountant, preparing statutory accounts and dealing with day-to-transactions As part of this role, the accountant had access to the company's banking facilities information has subsequently come to light which suggests that funds may have been misappropriated, without the director's knowledge or consent In particular, it appears that money which was to have been paid to HM Revenue and Customs (HMRC) in respect of the company’s tax liabilities may have been diverted to a third party
The alleged misappropriation of funds came to light in January 2014, shortly after the company severed its links with the accountant It 1s understood that other businesses in the area have made similar allegations in relation to the same individual The director has notified the Police of the allegation and it is understood that the Police are currently carrying out an investigation
Administrators' statement of proposals (2014-03-12) · Companies House register