Nightel Two Limited (09041424): administration
- Status
- Administration ended
- Administration began
- 2019-04-26
- Administrators
- Sean Williams, Philip Deyes
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2014-05-15
- Location
- Leeds
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated on 15 May 2014 and commenced to trade in July 2017 following the construction of a hotel on land owned by Humberside Airport. The land was leased to the Company for the purposes of operating a hotel.
The hotels construction was funded by way of borrowings from the current Secured Lender (as assigned) and grant funding from North Lincolnshire Council. For a number of reasons the Company encountered delays in the opening of the hotel and additional funding lines had to be extended. The Company was unable to refinance and the original development funding had to be extended.
The hotel was operated by an independent management company known as Leaf Hospitality Ltd (“Leaf”) which operated the hotel in accordance with a franchise agreement between the Company and the Hilton brand, the Hampton by Hilton.
Administrators' statement of proposals (2019-07-12) · Companies House register