# Caldwell Restaurants Limited (09315813)

> Why UK company 09315813 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/09315813

- **Status:** Administration ended
- **Administration began:** 2018-01-24
- **Administrators' firm:** Edge Recovery
- **Incorporated:** 2014-11-18
- **Location:** Bromley
- **Industry:** 56101 Licenced restaurants

## Why it went into administration

- Property / lease costs
- Rising costs / inflation
- Creditor pressure / legal action
- Rising interest rates
- Brexit

## From the administrators' statement

The Company began trading in December 2014 from two sites, Cafe Med in St. John’s Wood and MK Bar & Grill in South Kensington. The business was set up at short notice and bridge finance had to be utilised with the resultant punitive high interest rates. The plan was to replace this with a normal High Street Bank commercial loan on more attractive terms and although this had been promised by several

brokers it did not materialise in part due to mediocre trading, resulting in continuing payment of the high interest charges.

In addition, the South Kensington site needed significant investment to return it to previously achieved trading figures and the St. John’s Wood site was subject to a lease renewal, which came with a costly dilapidation schedule. The knock-on cost to the Company whilst these works were carried out was significant. Both restaurants were shut for a period of time and the St. Johns Wood restaurant in particular was encased in scaffolding for several months resulting in worse than anticipated trading figures.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/09315813/filing-history/MzIwMTExNTQ2NGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/09315813

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