Wabi London Limited (07900210): administration
- Status
- Administration ended
- Administration began
- 2013-06-21
- Administrators
- Michael Stephen Elliot Solomons, Andrew James Pear
- Administrators' firm
- BM Advisory
- Incorporated
- 2012-01-06
- Location
- London
- Industry
- 56101 Licenced restaurants
From the administrators' statement
The Company was incorporated on 6 January 2012 and traded as a licenced Japanese restaurant from leasehold premises at 36-38 Kingsway, London WC2B 6EY. The premises were leased from Kingsway LIF Holdings Ltd, who are also involved with the operation of the hotel, Club Quarters, situated above the restaurant. The Company had over 50 employees and two directors, Halldor Sigurdarson and Andre Cachia. The two shareholders are Meridian Investments Ltd (holding 90 ordinary shares) and Scott Hallsworth (holding 10 ordinary shares)
The restaurant commenced trading on 14 November 2012, with a capacity of 110 covers. While the reported turnover appeared reasonable for the brief trading period the restaurant was open, it was not sufficient to support the significant wage and other operational costs being incurred In May 2013, the directors undertook an investigation into the affairs of the Company and based upon tts financial position, they determined that the Company was or was likely to become insolvent on a balance sheet and cash flow basis
Restructuring and insolvency services are provided through BM Advisory LLP and our partners are licensed in the United Kingdom to act as insolvency practittoners
Administrators' statement of proposals (2013-08-19) · Companies House register