Kyuk 2024 Limited (08809523): administration
- Status
- Administration ended
- Administration began
- 2024-09-04
- Administrators
- Colin David Wilson, Trevor John Binyon
- Administrators' firm
- Opus Restructuring
- Formerly
- Kanada-Ya UK Limited
- Incorporated
- 2013-12-10
- Location
- Milton Keynes
- Industry
- 56290 Other food services
Why it went into administration
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
Opus Restructuring LLP (“Opus”) was initially approached by the Company’s directors on 10 July 2024 to help advise on the options available for the Company, as it was deemed to be insolvent.
The Company had exhausted its available cash resources, and its cash constraints were impacting on its ability to continue trading. The Company’s shareholders and investors confirmed that they were not able to provide the level of additional funding necessary to help continue the Company to trade. It was identified and agreed that Administration would be the best option for the Company and, a pre-pack sale would be progressed for a potential sale of the business to maximise the value of the assets. Full details of the marketing undertaken is provided in our SIP 16 disclosure at Appenix IV.
No Moratorium under Part Al of the Act has been in force for the Company at any time within the period of 2 years ending with the day on which it entered Administration.
Administrators' statement of proposals (2024-10-08) · Companies House register