J&R Pizza Limited (09321461): administration
- Status
- Administration ended
- Administration began
- 2019-01-11
- Incorporated
- 2014-11-20
- Location
- Milton Keynes
- Industry
- 56102 Unlicenced restaurants and cafes
Why it went into administration
- Loss of a key customer, supplier or contract
From the administrators' statement
Initial meetings with the Directors were held in November 2018 with Stratford Hamilton to assess the financial position of the Company. During that meeting it was clear that the Company was in a difficult financial position, however the Directors believed that attempts should be made to negotiate with the Franchisor in respect of the outstanding liability due in order to attempt to maintain the business.
Prior to the Administration, the Company defaulted its franchise agreement with the franchisor of the Pizza Hut brand; YUM.
The Company entered into discussions with Yum prior to the Christmas period, however following receipt of a notice of termination of the agreement, the franchise was formerly terminated by YUM on the 31 December 2018 at midnight whereby the restaurants were instantly closed, and the staff were made redundant.
Administrators' statement of proposals (2019-03-20) · Companies House register