Huckletree (West) Limited (10434504): administration
- Status
- Administration ended
- Administration began
- 2024-07-04
- Administrators' firm
- Quantuma
- Formerly
- Huckletree (White City) Limited
- Incorporated
- 2016-10-18
- Location
- London
- Industry
- 82110 Combined office administrative service activities
Why it went into administration
- COVID-19
- Property / lease costs
- Rising costs / inflation
- HMRC / tax arrears
- Creditor pressure / legal action
From the administrators' statement
3.1 As stated above, the Company was severally impacted by the Covid-19 lockdown and has been unable to return to pre Covid-19 trading.
3.2 As the leases are all pre-Covid, rent was being charged at a premium high and the Company was unable to increase costs of members, as a significant number of members had already reduced their workspace requirements.
3.3 Despite the Company achieving a turnover of £3,956,982 for the year ended 31 March 2023, there was a loss £390,175 for the year, mostly due to the administrative expenses totalling £4,331,111.
Administrators' statement of proposals (2024-08-30) · Companies House register