Park Place Plaza Ltd (08999314): administration
- Status
- Administration ended
- Administration began
- 2021-07-06
- Administrators
- David Philip Soden, Ian Colin Wormleighton
- Administrators' firm
- Deloitte
- Incorporated
- 2014-04-16
- Location
- Birmingham
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- COVID-19
- Loss-making contracts / project overruns
From the administrators' statement
• Reasons for failure & financial distress
During the construction phase of the development, the Company experienced cost overruns and delays in obtaining practical-completion. This was eventually obtained in November 2018 (Mulberry House) and. March 2019 (Boston House). The Company has sirice sold 158 out.of 202 residential units, and let one of retail units. :
However, the Company sold only two residential units in 2020, and suffered from eight cancellations for
Administrators' statement of proposals (2020-09-18) · Companies House register