Newco Ventures Ltd (09436489): administration
- Status
- Administration ended
- Administration began
- 2020-10-09
- Administrators
- Anthony Collier, David Robert Acland
- Administrators' firm
- FRP Advisory
- Incorporated
- 2015-02-12
- Location
- Manchester
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- Sustained trading losses
- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 12 February 2015 and traded the Bredbury Hall Hotel and Country Club in Stockport, Greater Manchester. The hotel had a capacity of 148 bedrooms with bar, restaurant and nightclub facilities.
The Company acquired the Hotel in 2015 out of an Administration process. Golam Sarwar and his wife, Nina Sarwar, act as the directors of the Company. Golam Sarwar is also the sole shareholder of the Company.
It is understood that both reside in Bangladesh. The Company therefore engaged specialist hotel operators to oversee day to day trading operations. Assured were the incumbent managing agents at the Appointment Date, having been engaged by the Company since August 2017.
Administrators' statement of proposals (2021-01-06) · Companies House register