Signature Living Lifestyles Limited (09418251): administration
- Status
- In administration
- Administration began
- 2022-08-05
- Administrators
- Robert Armstrong, Benjamin John Wiles
- Administrators' firm
- Kroll
- Incorporated
- 2015-02-03
- Location
- London
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- COVID-19
- HMRC / tax arrears
- Creditor pressure / legal action
- Property / lease costs
- Competition / price pressure
From the administrators' statement
The Company trades as a landlord as holder of a long leasehold title to the Gym situated in Millennium House, Liverpool. The Gym is subject to a 10-year lease with the Council commencing 19 February 2015, expiring on 18 February 2025 with a passing rent of £110,376 per annum
In the lead up to the COVID-19 lockdown the Gym faced a number of challenges, in what was an increasingly competitive fitness market in the city centre.
The Gym was closed as a result of the COVID-19 lockdown measures, however following a post-lockdown review of the service by the Council, the decision was made not to re-open the Gym. The Council has continued to meet its obligations under the lease granted by the Company.
Administrators' statement of proposals (2022-10-10) · Companies House register