Kingfisher Resorts ST Ives Limited (10257898): administration
- Status
- In administration
- Administration began
- 2025-03-25
- Administrators
- Rachel Hotham, Richard Alan Warwick
- Administrators' firm
- The Logistics Partnership
- Incorporated
- 2016-06-30
- Location
- Taunton
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- Rising costs / inflation
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 30 June 2016 with the view of purchasing Kingfisher Una Resorts Limited (“KURL”) and Una St lves Homes Limited (“USI”), which completed in September 2016. The main activity of the Company is, therefore, that of a holding company.
The trading activities of the wholly owned subsidiaries, KURL and USI, was that of the operation of letting businesses and the development of the Una St Ives Resort in Carbis Bay, Cornwall.
The Company has raised funds since incorporation through a combination of equity investments and debt. The debt has been raised largely from Shore Finance Limited (“Shore”), £10.5m, and private loan note holders, £5.4m. The debt to Shore is secured by way of a fixed and floating charge and private loan note holders obtained security over part of KURL’s site directly, via a charge registered in their favour against KURL by Loan Note Debentures Limited.
Administrators' statement of proposals (2025-05-22) · Companies House register