Azzurri Orca Limited (12062044): administration
- Status
- Administration ended
- Administration began
- 2020-07-17
- Administrators
- Christopher Robert Pole, William James Wright
- Administrators' firm
- KPMG
- Incorporated
- 2019-06-20
- Location
- London
- Industry
- 56101 Licenced restaurants
Why it went into administration
- COVID-19
- Property / lease costs
- Cash flow / liquidity pressure
- Weak consumer demand
- Rising costs / inflation
- Over-expansion / investment not recovered
From the administrators' statement
The Company was incorporated on 20 June 2019. In 2019, ‘the Company purchased part of « the business and assets of POD from its administrators, with the intention of converting the sites into Coco di Mama stores. The Company occupied the sites under a LTO until such time as.a new lease was agreed/the site converted, whilst leveraging the POD brand to operate a delivery service from two delivery hubs based in Coco di Mama sites.
As at the date of appointment, seven sites had been converted, four sites had been exited, and the Joint Administrators have offered surrenders in relation to the remaining sites.
Please refer to the SIP 16 disclosure at Appendix 7 for more information on the background of the Company. We are not currently aware of any connected party transactions in the two years prior to the. administration that warrant further investigation at this stage although our investigations into - the affairs of the Company are ongoing as outlined in Section 4.2.
Administrators' statement of proposals (2020-10-07) · Companies House register