Hotel VAN DYK Limited (07922515): administration
- Status
- Administration ended
- Administration began
- 2024-06-24
- Formerly
- VAN DYK (Hotel) Limited
- Incorporated
- 2012-01-24
- Location
- Grimsby
- Industry
- 55100 Hotels and similar accommodation
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of the proposals has been prepared based on information provided by the Board of Directors ("the Board") of the Company and not from our personal knowledge as Joint Administrators.
There was a petition presented against the Company by Seneca Trade Finance Limited, who are owed some £300,000. There had been some seven court hearings, and clearly matters were coming to an expected decision process.
The Company had been in long term discussions with potential purchasers for the freehold site at Rotherham, which has provisional plans for a division by at least four main parties and its suitable development. The current budget for net realisations to the Company are budgeted at £4 million, to allow for deductions of planning and associated sale costs, and this amount considerably exceeds what may be the expected value if planning permission is not achieved. The site is understood to be brownfield, it is circa 2.75 ha, and the discussions had developed to a later stage prior to drafting contracts. It was apparent that planning drawings and advice had also progressed to a later stage for some of the process as well.
Administrators' statement of proposals (2024-08-05) · Companies House register