# York Place Buildings Limited (09309376)

> Why UK company 09309376 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/09309376

- **Status:** Administration ended
- **Administration began:** 2024-02-08
- **Administrators:** Matthew Mawhinney, Gavin Maher
- **Administrators' firm:** Teneo
- **Incorporated:** 2014-11-13
- **Location:** Birmingham
- **Industry:** 68100 Buying and selling of own real estate

## Why it went into administration

- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Property / lease costs
- Sustained trading losses
- Rising interest rates

## From the administrators' statement

The Company began experiencing a decline in apartment sales volumes in 2023. Management attributed this decline to macroeconomic factors including rising interest rates and stagnation within the housing market. As a result, sales of properties were not completed as required in order to deleverage the Facility and remain within covenants.

This decline in performance prompted the Company to advertise properties for rent to generate income from unsold apartments.

Reservation of rights letters were sent to the Company in respect of the known Events of Default on 12 June 2023 and on 4 July 2023, pursuant to which the Security Agent, Kroll reserved all rights and remedies to enforce Macquarie’s security.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/09309376/filing-history/MzQxNTgzMjA2NGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/09309376

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