Balans Restaurants Limited (08410036): administration
- Status
- Administration ended
- Administration began
- 2020-07-24
- Administrators
- Robert Cundy, Bijal Shah
- Administrators' firm
- Edge Recovery
- Formerly
- Balans (Newco) Limited
- Incorporated
- 2013-02-19
- Location
- Bromley
- Industry
- 56101 Licenced restaurants
Why it went into administration
- Property / lease costs
- COVID-19
- Regulatory change or action
- HMRC / tax arrears
- Over-expansion / investment not recovered
- Brexit
- Competition / price pressure
From the administrators' statement
.Creditors should note that, unless otherwise stated, this section of my proposals has been prepared based on information provided to me by the directors of the Company and not from my personal _ knowledge as Administrator. ;
The Company was incorporated in February 2013. It operated seven restaurants in and around London. All restaurants operated under leases for the properties and all sites had been closed down temporarily, with all staff, except one, being furloughed in accordance with government guidelines. It is understood 7 ‘ that the’ business was not making profits prior to closing.
In late 2013, backed by 4 investors, David Taylor formed Balans Réstaurants Ltd and acquired the UK
Administrators' statement of proposals (2020-08-19) · Companies House register