Theobalds Park OP Co Limited (11662604): administration
- Status
- Administration ended
- Administration began
- 2023-11-20
- Administrators
- Gavin George Scott Park, Daniel James Mark Smith
- Administrators' firm
- Teneo
- Incorporated
- 2018-11-06
- Location
- Birmingham
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- Sustained trading losses
- Rising costs / inflation
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company had been loss making since late 2022 anda continued decline in performance meant that the Company was unable to meet its debt commitments in September 2022, due to a decline in customer demand coupled with rising cost inflation.
Accordingly, the directors approached AIB Group (Uk) Plc (“AIB”), in its capacity as first ranking floating charge, to discuss a solution to the Company’s financial difficulties.
Steps taken to remedy/turnaround
Administrators' statement of proposals (2024-01-16) · Companies House register