HUB BOX Limited (08591523): administration
- Status
- Administration ended
- Administration began
- 2024-07-11
- Administrators
- Stephen John Absolom, William James Wright
- Administrators' firm
- Interpath Advisory
- Incorporated
- 2013-07-01
- Location
- London
- Industry
- 56101 Licenced restaurants
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
In recent years, the Company has been reliant on the summer months for strong trading and as a result, liquidity between November and April has been challenging, with key creditors on payment plans for the past two years.
Despite these payment plans being in place, following a period of weak trading between November 2023 and April 2024, the Company were forecasting a funding requirement at the end of April 2024.
Subsequently, Interpath was formally engaged by the Company on 29 April 2024, to run a process to explore the sale, investment, refinance, restructuring and other options available to the Company (the ‘Options process’).
Administrators' statement of proposals (2024-07-31) · Companies House register