Cable Street Lancaster Development Limited (13039431): administration
- Status
- In administration
- Administration began
- 2026-05-05
- Administrators
- Lauren Wentworth, Mark Blackman
- Administrators' firm
- Advisory
- Formerly
- Priestley Homes (Cable Street) Limited
- Incorporated
- 2020-11-24
- Location
- Manchester
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
KR8 Advisory Limited were first approached by Together on 18 March 2026 and engaged by the Company and Together by letter of engagement dated 26 March 2026. KR8’s role was to consider the trading performance of the Property and associated options to improve the same, whilst also considering options available in respect of a sale of the Property. During the appointment period, KR8 were also asked to consider a settlement agreement which the Company had entered into with E.on Next Energy Limited. The terms of the Settlement Agreement had not been met by the Company with a pending Winding Up Petition.
Since the Company was unable to meet the terms of the Settlement Agreement, Joint Administrators were subsequently appointed by Together under its QFC on 5 May 2026.
These proceedings are COMI proceedings.
Administrators' statement of proposals (2026-07-10) · Companies House register