Alma De Cuba Hotel Limited (10567991): administration
- Status
- Administration ended
- Administration began
- 2022-05-18
- Administrators
- Michael Lennon, Matthew Ingram
- Administrators' firm
- Kroll
- Incorporated
- 2017-01-17
- Location
- Manchester
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Property / lease costs
- Funding withdrawn / unable to refinance
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 Alma De Cuba. 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.
The agreement envisaged that all employees would transfer under TUPE regulations over to UKAOL, although the TUPE transfer had not happened as at 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.
Administrators' statement of proposals (2022-07-20) · Companies House register