Colbury Care Limited (08094647): administration
- Status
- Administration ended
- Administration began
- 2019-10-31
- Administrators
- Danny Dartnaill, Sarah Megan Rayment
- Administrators' firm
- BDO
- Incorporated
- 2012-06-06
- Location
- Liverpool
- Industry
- 86102 Medical nursing home activities
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated on 6 June 2012. Following incorporation, the Company purchased the business and assets of Colbury Court that operated a care home from freehold premises in Calmore, Southampton. The purchase was funded by way of a loan facility with Barclays Bank ple (‘the Bank’) who also provided an overdraft facility. The Bank holds security against the freehold property, business and assets by way of a legal mortgage and debenture.
Following the purchase, the Company continued to operate the care home providing both residential and respite services to the elderly, individuals with dementia and physical disabilities.
The loan facility expired in February 2019 at which point, repayment of the remaining balance to the Bank became due in full. The loan was not repaid and the facility was not renewed or extended. Despite various conversations with the Bank concerning refinance options and/or the sale of the business as a going concern in order to facilitate a repayment, neither option was completed.
Administrators' statement of proposals (2020-01-07) · Companies House register