Waterside Country Park Limited (10824413): administration
- Status
- Administration ended
- Administration began
- 2023-05-11
- Administrators
- Geoffrey Paul Rowley, Paul David Allen, Sandra Lillian Mundy, Paul Davies
- Administrators' firm
- FRP Advisory
- Incorporated
- 2017-06-19
- Location
- Southampton
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Parent or group failure
From the administrators' statement
The Company was incorporated on 19 June 2017 and operates as a touring and holiday caravan park within the Royale Life group of Companies. The Waterside site operates from Main Rd, St Lawrence, Southminster, Essex, CMO 7LO0.
It currently trades using 5 operatives at the site. However, their contract of employment sits with another entity within the Royale Life group, not subject to an insolvency process. Payroll is also run through that entity and subsequently recharged as a cost to the Company on a monthly basis.
It was agreed that to ensure continuity of trade and minimise disruption that those employees would continue to be recharged through the Company and the Joint Administrators would cover those costs.
Administrators' statement of proposals (2023-07-13) · Companies House register