Lancaster Gate (LC) Limited (14769260): administration
- Status
- In administration
- Administration began
- 2026-03-12
- Administrators
- Paul Steven Cooper, Simon Baggs, David Paul Hudson
- Administrators' firm
- FRP Advisory
- Incorporated
- 2023-03-30
- Location
- Northampton
- Industry
- 68100 Buying and selling of own real estate
From the administrators' statement
The Company forms part of a wider portfolio of property holding Special Purpose Vehicles (“SPVs”) understood to be connected, directly or indirectly, with the collapse of Market Financial Solutions Limited —in Administration ("MFS’), a specialist property and bridging lender.
MFS and some of its subsidiaries experienced banking restrictions in late 2025, culminating in the freezing of accounts. MFS entered administration on 25 February 2026 with insolvency practitioners from Alix Partners UK LLP (“AP”) appointed as joint administrators. In the period immediately following the administration of MFS, the directors who collectively controlled the relevant SPV portfolio (hereafter any reference to the “SPV Portfolio” includes the Company) came together and jointly sought urgent insolvency advice in light of the wider MFS Group events, the risk of creditor action, and the need to stabilise and protect the Companies’ underlying property interests and rental income pending further investigation and an orderly strategy being agreed upon.
The Directors engaged BTG and FRP in accordance with the terms of their respective engagement letters dated 10 March 2026.
Administrators' statement of proposals (2026-05-13) · Companies House register