AB Leith Limited (SC277781): administration
- Status
- Administration ended
- Administration began
- 2015-12-17
- Administrators
- William Kenneth Dawson, Michael John Magnay
- Administrators' firm
- Deloitte
- Incorporated
- 2004-12-23
- Location
- Glasgow
- Industry
- 41100 Development of building projects
From the administrators' statement
We understand from the directors that the circumstances leading to the appointment of the Joint Administrators resulted from a sharp decline in the value of the land, which rendered the Company's substantia! development plans uneconomic.
The sites were valued by HSBC at £1.8m, prior to the acquisition of its loan by Sharp Boom.
Steps taken to remedy/turnaround
Administrators' statement of proposals (2016-02-08) · Companies House register