Magheramorne Park Limited (10512123): administration
- Status
- Administration ended
- Administration began
- 2020-02-06
- Incorporated
- 2016-12-06
- Location
- London
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
In January 2018, the Company’s bank facilities were operational and requests were made to Arc to reconcile the remediation payments received from Tarmac and to transfer the balance to the Company.
Payment was not forthcoming and this was disputed amongst the board of Directors and has led to a breakdown in the relationship between the Directors. In view of this stalemate the Company was unable to effectively operate and has been unable to prepare financial statements.
Furthermore, the Company was unable to secure a future working relationship with HBO for the proposed visitor centre / GoT attraction. The popularity of GoT had caused a significant number of trespass incidents and security costs were increasing to protect the sets remaining from the GoT production. By December 2019, all GoT sets were removed from the site, which has materially affected the potential value and use of the site.
Administrators' statement of proposals (2020-04-15) · Companies House register