From the administrators' statement

In June 2021, the Company entered into a management agreement with UKAOL to take full control over the business and operations of The Dixie Dean Hotel. As part of the management agreement, UKAOL were obligated to meet all of the Company’s costs in relation to the business, which included, but not limited to; the payment of employee salaries, wages, pension and PAYE and NIC contributions.

All of the employees transferred under TUPE regulations over to UKAOL from other entities in the group prior the Appointment Date.

In addition, the management agreement stipulated UKAOL were obligated to pay a turnover rent to the Company each month, which would be utilised by the Company to meet its ongoing liabilities, including secured debt obligations.

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Signature Eden Limited (09971999)

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