# Mgsph 2 Limited (09290691)

> Why UK company 09290691 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/09290691

- **Status:** Administration ended
- **Administration began:** 2019-02-21
- **Administrators:** Situl Devji Raithatha
- **Administrators' firm:** Springfields Advisory
- **Incorporated:** 2014-10-31
- **Location:** Leicester
- **Industry:** 56101 Licenced restaurants

## Why it went into administration

- Creditor pressure / legal action
- Sustained trading losses
- Loss of a key customer, supplier or contract
- Competition / price pressure

## From the administrators' statement

The Company was incorporated on 31 October 2014 to operate Pizza Hut Franchises under Franchise Agreements with Yum! Ill (UK) Limited (‘Yum’). The Company operated two outlets in derby, which were both opened on 27 April 2015.

The Company was part of a group of companies referred to as the RNT Group (“the Companies’), which operated a combined total of seventeen units. The sole director and ultimate beneficial owner of the Companies is Farhat Faheem, who had a wealth of experience in the food industry prior to establishing the businesses. The acquisition, fit out and operation of the units was funded through personal loans, asset finance agreements, a secured loan, and unsecured loans from secondary lenders. There were also intercompany loans between the Companies.

The Companies employed a combined total of 273 members of staff, which included 33 employees of the Company.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/09290691/filing-history/MzIzMDQwNDk4NWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/09290691

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.