DC Bars Limited (07582932): administration
- Status
- In administration
- Administration began
- 2023-06-09
- Administrators
- Neil A Bennett, Dane O'Hara
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2011-03-29
- Location
- London
- Industry
- 56302 Public houses and bars
From the administrators' statement
A detailed history and background is contained at Appendix L, including information in relation to the prepackaged sale of the business and assets in accordance with the provisions of Statement of Insolvency Practice 16 (“SIP16’).
Leonard Curtis were instructed by the directors by way of an engagement letter dated 25 April 2023 to consider and assist them with preparing and negotiating an agreement to sell the business and certain assets of the Company, by way of a pre-packaged Administration ("Pre-Pack’) sale.
A Notice of Intention to Appoint Administrators ("NOIA”) was filed in the High Court of Justice, Business and Property Courts of England and Wales by the directors on 30 May 2023. It was expected at the time that the sale of the business and assets of the Company would be completed before the expiry of the first NOIA, due to the limited time available to conclude the accelerated M&A process given the Company's cashflow position. Trading during this period was supported by Coutts, who allowed the Company to utilise the banking facilities, including an overdraft, provided to the wider group of companies to meet critical payments. .
Administrators' statement of proposals (2023-07-31) · Companies House register