Tom's Place Limited (10117104): administration
- Status
- Administration ended
- Administration began
- 2018-08-03
- Incorporated
- 2016-04-11
- Location
- Cheltenham
- Industry
- 56101 Licenced restaurants
Why it went into administration
- Weak consumer demand
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
The company was incorporated by Thomas Simmons and Lois Thomas to establish a restaurant offering gourmet food at affordable prices in central London. Mr Simmons had previously worked as head chef at a successful country house hotel in South Wales.
The directors secured equity finance for the company in two tranches from lan Watts and his associates; £300,000 in October 2016, shortly after opening negotiations with Berkeley Homes for the purchase of a lease over the company’s current trading premises, and £180,000 in April 2017 as negotiations progressed.
The company did not seek and has never had any other funding or credit facilities except for directors’ loans.
Administrators' statement of proposals (2018-08-24) · Companies House register