Powder Train LLP (OC318334): administration
- Status
- Administration ended
- Administration began
- 2013-02-06
- Administrators
- Francis Gavin Savage, Simon Campbell, Julie Anne Palmer
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2006-03-09
- Location
- Salisbury
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Management failings / irregularities
From the administrators' statement
The LLP was incorporated in 2006, it owned and ran five pub/restaurant sites, The George and The Anchor in Wiltshire, The Chequers and The Kings Arms in Sussex and The Chilh Pad in Hampshire
The LLP had made losses in the last three years on turnover of cE2 5m The November 2012 management accounts showed that the Partnership made YTD net losses of £112k The losses and those seen in 2010 and 2011 have been funded principaily by Jack Bowyer, the designated member
A Business Options Review by Zolfo Cooper was completed in October 2012 at the request of Royal Bank of Scotland (RBS) The report highlighted the following key issues
Administrators' statement of proposals (2013-04-10) · Companies House register