EK Devco Ltd (09141945): administration
- Status
- Administration ended
- Administration began
- 2023-01-06
- Administrators
- James Alexander Dewar, Alistair Mcalinden
- Administrators' firm
- Interpath Advisory
- Incorporated
- 2014-07-22
- Location
- London
- Industry
- 41100 Development of building projects
Why it went into administration
- COVID-19
- Property / lease costs
- Competition / price pressure
From the administrators' statement
2.1. + Background information
The Company was incorporated on 22 July 2014 to provide development management services to the owners of the East Kilbride Shopping Centre (“the Centre”), which are two connected entities registered in Luxembourg - Sapphire 15 s.a.rl. and Sapphire 16 s.a.r.l. (“Sapphire 15” and “Sapphire 16” respectively). The services were provided under a Development Management Agreement and the Company has no ownership interest in the Centre.
The Company also acted as developer for an area of the Centre known as The Hub. Whilst the construction contract is practically complete, there are significant defects issues and counter claims ongoing with certain contractors, who were employed by the Company to deliver the development.
Administrators' statement of proposals (2023-02-24) · Companies House register