Hashtag Hotels Limited (11856798): administration
- Status
- Administration ended
- Administration began
- 2019-08-28
- Administrators
- Neil A Bennett, Andrew Richard John
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2019-03-04
- Location
- London
- Industry
- 55100 Hotels and similar accommodation
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated on 4 March 2019 with Richard Basch being the sole director and shareholder of the Company. The principal trading activity of the Company was the provision of hotel accommodation at various universities across the United Kingdom and Ireland during the summer months, when university dormitories and halls were otherwise unoccupied.
Following incorporation, the Company sought investment in order to commence trading and this was eventually provided by Balcarres Hame LLP ("BH"), who were granted a debenture with the Company on 1 April 2019. The limit of their lending as per their facility agreement was £662,865.
At this time, four further directors were appointed to the Company as per paragraph 2.5 above and the Company formally commenced trading on 1 April 2019. The business operated by entering into short-term agreements with universities to take over occupation of university accommodation during the summer and re-let this accommodation via booking websites, with the Company dealing with cleaning and administrative functions at the university during its period of occupation.
Administrators' statement of proposals (2019-10-17) · Companies House register