Blackhouse Restaurants Limited (07797330): administration
- Status
- Administration ended
- Administration began
- 2020-06-18
- Administrators
- James Saunders, Andrew Knowles
- Administrators' firm
- Kroll
- Incorporated
- 2011-10-04
- Location
- Manchester
- Industry
- 56101 Licenced restaurants
Why it went into administration
- COVID-19
- Brexit
From the administrators' statement
Blackhouse was placed into a CVA in October 2018 in an attempt to restructure the business and improve the profitability going forward. The CVA was due to be finalised in March 2020 when the business began to be affected by Brexit, uncertainty and the early effects of the Coronavirus lockdown measures handed down by the UK Government.
The instructions provided by the Government i in response to the Coronavirus pandemic forced the business to close on Friday 20 March 2020. As a result, the Directors of Blackhouse proposed a variation to the terms of the CVA on 31 March 2020 which included an extension to the CVA in the hope that the market would have returned to normal in the short term and cashflow would allow repayment. The variation was approved by the creditors and the-CVA was extended to 31 December 2020.
Blackhouse placed all employees on furlough leave in order to make use of the Coronavirus Job Retention Scheme whilst efforts were made-to save the business from entering formal insolvency proceedings.
Administrators' statement of proposals (2020-09-04) · Companies House register