Sanstef Limited (SC168161): administration
- Status
- Administration ended
- Administration began
- 2013-07-16
- Administrators
- Brian William Milne, Eileen Blackburn
- Administrators' firm
- Quantuma
- Incorporated
- 1996-09-10
- Location
- Glasgow
- Industry
- 56101 Licenced restaurants
Why it went into administration
- Weak consumer demand
From the administrators' statement
The company was incorporated on 10 September 1996 and was dormant until 2005. At this time it commenced trading solely from leased premises at 227 Byres Road, Glasgow, trading as Paperinos. As the business grew, a further premise was opened in central Glasgow. At the date of our appointment the company’s remaining interest lay solely with the trade and leased premises at Paperinos, 78 St Vincent Street, Glasgow.
Finance for the Company's trading operations was provided by Clydesdale Bank plc.
As consumer spending declined during 2010 and 2011, and profit margins were reduced to the year ended 30 November 2011 losses were posted at both trading premises in which the company held an interest.
Administrators' statement of proposals (2013-09-10) · Companies House register