# Fare Bar & Canteen Ltd (11181429)

> Why UK company 11181429 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/11181429

- **Status:** Administration ended
- **Administration began:** 2023-02-24
- **Administrators:** Joann Leach, Christopher Newell
- **Administrators' firm:** Quantuma
- **Incorporated:** 2018-02-01
- **Location:** Maidenhead
- **Industry:** 56101 Licenced restaurants

## Why it went into administration

- Cash flow / liquidity pressure

## From the administrators' statement

3.1 The Company’s director was referred to Quantuma Advisory Limited by Sarah Gadeke of Norwoods Accountantcy Limited on 7 October 2022 to help advise on the options available for the Company, as it was deeded insolvent.

3.2 A Company Voluntary Arrangment was not deeemed viable as securing additional funding for the Company’s day to day trade was unlikely. Furthermore, the directors were not confident that on the viability of a CVA as it is unlikely the required majority of creditors would support a CVA.

3.3. The possibility of placing the Company into Liquidation was considered. However, it was decided that this was not the best course of action to take, as increased redundancies would have been very likely leading to a substantial increase in the level of creditors. There would also have been no realisation for goodwill, intellectual property and contracts and any realisation of the fixtures and fittings at the premises would in all likelihood have been negatively affected.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/11181429/filing-history/MzM3NTA2MzAwN2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/11181429

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.