Second Home Ltd (08738897): administration
- Status
- In administration
- Administration began
- 2024-12-24
- Administrators
- Philip Lewis Armstrong, Geoffrey Paul Rowley
- Administrators' firm
- FRP Advisory
- Incorporated
- 2013-10-18
- Location
- London
- Industry
- 56301 Licenced clubs
Why it went into administration
- COVID-19
- Sustained trading losses
From the administrators' statement
The Company was established in 2013 and operates in the serviced office business offering a number of high-end, serviced office and co-working facilities at two locations in London. Aldgate and Notting Hill.
Following its inception, the Company expanded its operation globally with serviced office accommodation in Lisbon, Los Angeles and another three sites in London. Unsurprisingly, the Company’s business was badly hit by the effects of the Covid-19 pandemic and the associated periods of lockdown. As a result of the downturn in its business, the Company was forced to shutdown its operation in Los Angeles and to close its facilities in London Fields and Clerkenwell.
The Company is currently insolvent within the meaning in section 123 of the Act and is shortly expected to go into administration. The directors of the Company have been advised by the Administrators and their firm, FRP Advisory. in respect of the various options that might be available to the Company with a view to seeking the best possible outcome for the Campany and its creditors.
Administrators' statement of proposals (2025-01-07) · Companies House register