PH Leicester Ltd (08864728): administration
- Status
- Administration ended
- Administration began
- 2023-09-07
- Administrators
- Situl Devji Raithatha
- Administrators' firm
- Springfields Advisory
- Incorporated
- 2014-01-28
- Location
- Leicester
- Industry
- 56101 Licenced restaurants
Why it went into administration
- Weak consumer demand
- Cash flow / liquidity pressure
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 28 January 2014 and operated four Pizza Hut franchises in the Midlands under Franchise Agreements with Yum! Ill (UK) Limited (“the Franchisor’). The Director also operated a number of Pizza Hut franchises throughout England under separate limited companies, which employed approximately 195 employees combined at their peak.
The Company obtained funding from HSBC Bank Plc to assist with the initial acquisition and start-up costs. Funding was later secured from second tier lenders.
The Company performed well until late 2017; however, declining sales brought the viability of the business into question. Despite these issues, the Company was able to navigate this period and continued to trade.
Administrators' statement of proposals (2023-11-08) · Companies House register