Waterfront Southport Properties Limited (07707203): administration
- Status
- In administration
- Administration began
- 2022-09-28
- Administrators
- Sandra Lillian Mundy, Paul Davies
- Administrators' firm
- FRP Advisory
- Formerly
- Bliss Hotels Limited; Willesden JH Limited
- Incorporated
- 2011-07-15
- Location
- Southampton
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 15 July 2011 and operated as a property holding company, the property in question being a long-term leasehold hotel property; Waterfront Southport Hotel, Waterfront, Promenade, Southport PR9 ODZ (the Hotel) and an unoccupied building adjacent to the Hotel (the Unoccupied Building). It did not employ staff.
Its subsidiary company, Waterfront Hotels (Southport) Limited (the Subsidiary) (formerly trading as Bliss Hotels), runs trading operations for the Hotel which the Company owns.
The Company’s primary source of funding was provided by ICG- Longbow Senior Secured UK property Debt Investments Limited (the Charge Holder) which was secured by way of a fixed and floating charge dated 22 February 2019. The Company and Waterfront Hotels (Southport) Limited have given cross guarantees to the lender and are both liable to the Charge Holder for the indebtedness. The companies owe £16,211,470.20 to the Charge Holder.
Administrators' statement of proposals (2022-11-30) · Companies House register