Kinning Park Leases Limited (SC292500): administration
- Status
- Administration ended
- Administration began
- 2021-04-06
- Administrators
- Derek Forsyth, Blair Milne
- Administrators' firm
- Azets
- Formerly
- Trespass Europe Limited; Trespass Scotland Limited; Sudden Investments Limited; Pacific Shelf 1341 Limited
- Incorporated
- 2005-11-01
- Location
- Renfrew
- Industry
- 77390 Renting and leasing of other machinery, equipment and tangible goods n.e.c.
Why it went into administration
- COVID-19
- Property / lease costs
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 1 November 2005 under Company number SC292500 and its principal activity was the renting and leasing of property. A background and history of the Company has been provided by the Directors, which is summarised as follows:
Kinning Park Leases Limited ("KPLL") was originally a shell company that was held for several years.
In 2008, as the number of retail shops we were opening started to increase dramatically, we decided to use KPLL as a property company to sign up the leases with the landlords so that the trading operations and the property holding entity were separated. This process of using KPLL to enter into leases continued successfully until last year. The model of separating property from operations is quite common in retail groups.
Administrators' statement of proposals (2021-06-08) · Companies House register