C. & N. Properties (Scotland) Ltd. (SC161893): administration
- Status
- Administration ended
- Administration began
- 2014-01-10
- Administrators
- Graham Douglas Frost, Peter Robin Bacon
- Administrators' firm
- PwC
- Incorporated
- 1995-11-27
- Location
- Glasgow
- Industry
- 41100 Development of building projects
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated in 1995 and traded as a property investment business, acquiring a portfolio of property in the Lanark area. At the date of Administration, the Company owned a commercial property development and associated land known as Valley International Park (“the Park”), near Crossford. The Park contained a number of units which the Company had let to a variety of tenants, including a hairdresser, mini railway, tapas bar, soft play area, café and garden centre. The Company also owned a small restaurant and bar in Crossford, with a residential flat above the bar. A number of the commercial properties were tenanted at the date of Administration. Ail of the properties and land are subject to standard securities to Hadrian S.A.R.L (“Hadrian”).
The Company’s portfolio also included a property at 24-28 Bloomgate, Lanark (“the Property”), which is vacant and subject to a standard security held by The Royal Bank of Scotland pic (“RBS”).
The Company employed 3 staff at the date of the Administrators’ appointment, 2 of which were made redundant immediately following the appointment. The remaining employee was retained to assist the Administrators for one week and was subsequently made redundant.
Administrators' statement of proposals (2014-03-03) · Companies House register