Cabana Restaurants Limited (07627429): administration
- Status
- Administration ended
- Administration began
- 2019-08-16
- Administrators
- Stephen John Absolom, William James Wright
- Administrators' firm
- KPMG
- Incorporated
- 2011-05-09
- Location
- London
- Industry
- 56101 Licenced restaurants
Why it went into administration
- Funding withdrawn / unable to refinance
- Property / lease costs
- Sustained trading losses
- Cash flow / liquidity pressure
From the administrators' statement
The Company was founded in 2011 in response to demand for a premium South American casual dining restaurant. At the date of appointment the business operated from eight restaurants in the UK, the majority of which were based in London with three sites in Southampton, Manchester and Newcastle, the latter of which has not traded since January 2018. Please refer to the SIP 16 disclosure at Appendix 7 for more information on the background of the Company.
The Company’s statutory directors are its two founders, along with Jonathan Lander, a nonexecutive director (the ‘Directors’). At the time of our appointment there are more than 70 shareholders of the Company.
We are not currently aware of any connected party transactions in the two years prior to the administration although our investigations into the affairs of the Company are ongoing as outlined in Section 3.2.
Administrators' statement of proposals (2019-09-09) · Companies House register