M S L Hotels Limited (SC224790): administration and why it failed

M S L Hotels Limited (SC224790): administration

Status: Administration ended
Administration began: 2013-01-11
Administrators: Paul Dounis, Kenneth W Pattullo
Administrators' firm: Begbies Traynor
Incorporated: 2001-10-31
Location: Glasgow
Industry: 55100 Hotels and similar accommodation

Why it went into administration

Property / lease costs
Funding withdrawn / unable to refinance
Cash flow / liquidity pressure
HMRC / tax arrears
Sustained trading losses

From the administrators' statement

MSL Hotels Limited ("MSL"or “the Company”) owns a freehold property at Lonend Road, Paisley

: occupied by The Watermill Hotel (Paisley) Limited (“the Watenmill’), a related entity of MSL with common shareholders, under a formal lease agreement.

TO THE

Administrators' statement of proposals (2013-03-11) · Companies House register

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