MMI Scotland Ltd (SC263351): administration
- Status
- Administration ended
- Administration began
- 2013-04-26
- Administrators
- Blair Carnegie Nimmo, Gerard Anthony Friar
- Administrators' firm
- KPMG
- Formerly
- Marmion Inns Limited
- Incorporated
- 2004-02-11
- Location
- Glasgow
- Industry
- 56101 Licenced restaurants
From the administrators' statement
The Company was formed in 2004 by the Directors to operate the Premises as a public house and restaurant, Between 2004 and January 2011, the Premises were operated under a lease agreement with Mitchells & Butlers. In January 2011, having secured term loan funding from the Bank, and a Hoan from TCB, the Premises were purchased by the Company.
The site from which the Premises operate comprises an extended two-storey former farmhouse, a large external seating area, and an area of undeveloped land.
The Company generated turnover of £716,000 during FY12 (a reduction of approximately £66,000 on the sales achieved during FY11), and a profit before tax of £33,000 (representing approximately 50% of the profit before tax achieved during FY11). The Company’s most recent financial information, management accounts for the nine-month period to 31 January 2013 which were provided to us by the Bank, indicates annualised . turnover of approximately £660,000, a reduction of 8% on the equivalent figure for FY12, and a reduction of 16% on sales achieved during FY11.
Administrators' statement of proposals (2013-06-19) · Companies House register