PH Leicester 1 Ltd (09152054): administration
- Status
- Administration ended
- Administration began
- 2023-09-07
- Administrators
- Situl Devji Raithatha
- Administrators' firm
- Springfields Advisory
- Incorporated
- 2014-07-29
- Location
- Leicester
- Industry
- 56103 Take-away food shops and mobile food stands
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 29 July 2014 and operated a Pizza Hut franchise in the East Midlands under a Franchise Agreement 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 (“the Bank”) to assist with the initial acquisition and start-up costs.
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