M.J. Macleod and Company Limited (SC042198): administration
- Status
- Administration ended
- Administration began
- 2013-06-03
- Administrators
- Elizabeth Galbraith Mackay, Anne Clare O'Keefe, Fraser James Gray
- Administrators' firm
- AlixPartners
- Incorporated
- 1965-05-18
- Location
- Glasgow
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- HMRC / tax arrears
- Sustained trading losses
- Cash flow / liquidity pressure
From the administrators' statement
2.1 The Company was incorporated on 18 May 1965 and traded as an hotelier since that time. The Hotel has expanded overs the years and now comprises a public bar, restaurant and a self-contained cottage. The Hotet which is based on the Isle of Skye employs approximately 30 people on a full and part time basis.
2.2 The Company is funded by Clydesdale Bank plc (the Bank) which holds standard securities created on 31 May 2007 and 1 June 2007 and a floating charge registered on 17 May 2007.
2.3 The Company is connected to Macleod Hotels U.K. Limited (MHUK) by a common director. MHUK was also placed into administration on 3 June 2013.
Administrators' statement of proposals (2013-07-25) · Companies House register