TNK (Baker Street) Limited (08842875): administration
- Status
- Administration ended
- Administration began
- 2020-09-30
- Administrators
- Michael Kiely, Simon James Bonney
- Administrators' firm
- Quantuma
- Incorporated
- 2014-01-13
- Location
- London
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- COVID-19
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Property / lease costs
- Sustained trading losses
- Brexit
From the administrators' statement
2.1. The business was established in January 2014 and the principal activity of the Company was to provide the City of London with an all-day offering of healthy food and beverages across a number of restaurants, food to go deli’s and bar outlets. It traded from 55 Baker Street, Marylebone, London, W1U 8EW.
2.2 Due to consistent improvements in the Company's KPls, despite making a loss in the prior two years, in 2019 the Company benefitted from increased efficiency and profitability, despite rising costs. As a result, the financial year ending 31 December 2019 was the most profitable year for the Company and it reported a total profit of £27,993.88 on turnover of £1.4 million.
2.3. At the end of 2019, management undertook an internal review of the Company's processes and restructured the head office team and individual unit managers in readiness for a challenging year due to the anticipated ongoing impact of Brexit. These changes were implemented and completed the first quarter of 2020 and the financial year began as predicted.
Administrators' statement of proposals (2020-11-28) · Companies House register