Vermuteria Limited (11299116): administration
- Status
- In administration
- Administration began
- 2026-07-30
- Administrators
- Paul Ellison, Christopher Errington
- Administrators' firm
- KRE Corporate Recovery
- Incorporated
- 2018-04-09
- Location
- Reading
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- HMRC / tax arrears
- Property / lease costs
- Weak consumer demand
- Weather / natural events
- Energy costs
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated as Vermuteria Limited (“the Company”) on 9 April 2018 and commenced trading as a bar and restaurant under the trading name Vermuteria. On incorporation the directors were Appudurai Ragudasan, Anthony Demetre and Michael Sodeau.
The Company was initially funded by working capital provided by the directors and by raising funding via third party investment and the business grew steadily over several years. The Company was seasonal and made the majority of its earning in the summer periods.
The Company began experiencing financial difficulties during the pandemic in 2020, which forced the restaurant to close for a period and trading never recovered from pre-pandemic levels, due to more people working from home/working shorter weeks in the office and therefore there was much less footfall in the city, plus, increased competition, with a competitor opening only 20 meters from the Company, with a similar food and beverage offering.
Administrators' statement of proposals (2026-09-10) · Companies House register