Luna Hotels Limited (11014036): administration
- Status
- Administration ended
- Administration began
- 2023-07-31
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2017-10-16
- Location
- Fareham
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Rising interest rates
- COVID-19
- Energy costs
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Property / lease costs
- Brexit
From the administrators' statement
Luna Hotels Limited (Luna) is a wholly owned subsidiary of Bourne Asset Management Limited (BAM), which in turn is a wholly owned subsidiary of CHX.Life Limited {CHX). CHX and BAM were placed into administration on 11! November 2022 and 14 July 2023 respectively with Michael Fortune and Stewart Goldsmith, both of Leonard Curtis, being appointed as joint administrators of both companies.
Luna owns a property at Bourne Park, Bournemouth. Two neighbouring properties are owned by connected companies, Bourne Arlington Limited (Bourne Arlington) and EPR Limited (EPR) and together these are known as the hotel properties that back on to Bourne Park in Bournemouth, a sought-aiter location. The hotel properties are mainly a mix of serviced offices with some additional ancillary services attached.
These properties formed the long-term strategy of the group, where the plan was to trade the business for several years until such time as planning permission could be obtained.
Administrators' statement of proposals (2023-10-02) · Companies House register