Old Rectory Hotel (Llangattock) Limited (08061360): administration
- Status
- Administration ended
- Administration began
- 2015-01-06
- Administrators
- Sajid Sattar, Simon David Chandler
- Administrators' firm
- Mazars
- Formerly
- Oldrectoryhotel(Llangattock) Ltd
- Incorporated
- 2012-05-09
- Location
- Nottingham
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- Property / lease costs
From the administrators' statement
We were first introduced to the company by the landlord of the hotel on 19 November 2014 as although there was no petitioning creditor, the company was unable to settle its labilitres as and when they fell due
Old Rectory Hotel (Llangattock) Limited (“Rectory”) traded from The Old Rectory Hotel and Golf Club based in Llangatock, Wales This was under a lease granted to the company for a period of 5 years commencing on 25 June 2012 The remaining term of the lease was 25 years to min with a commercial rent of £1 9k plus VAT per week Agents advised that there was little or no value in assigning the lease and as such was not a realisable asset of the impeding Administration The lease was between Brecon Road Limited, Pregge Lane Limited and the company with Brecon Road Limited and Pregge Lane Limuted acting as landlords
At that time however a third party was interested in taking an assignment of the lease but that party would not commit to do so until early January 2015 The hotel therefore needed to remain open and trading during the period up to and over Christmas, in order to allow the numerous bookings, with deposits already paid, to be fulfilled
Administrators' statement of proposals (2015-03-09) · Companies House register