Riverhills Development Ltd (13641888): administration
- Status
- Administration ended
- Administration began
- 2024-02-29
- Administrators
- David Frederick Shambrook, Glen Carter
- Administrators' firm
- RSM
- Incorporated
- 2021-09-24
- Location
- Manchester
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Property / lease costs
- Rising interest rates
From the administrators' statement
Due to the Company being incorporated as a SPV, there are no financial statements and management accounts in relation to the Company.
As mentioned above, the Company was funded by the Secured Lender, however the Company entered into financial distress towards the end of 2023 as no immediate sale of the Company’s Property was likely.
The Property is the only known asset under the Company’s name.
Administrators' statement of proposals (2024-05-02) · Companies House register