Metro Lodge Limited (SC324524): administration and why it failed

Metro Lodge Limited (SC324524): administration

Status: Administration ended
Administration began: 2019-06-27
Administrators: Paul Dounis, Gareth Harris
Administrators' firm: RSM
Incorporated: 2007-05-29
Location: Edinburgh
Industry: 55100 Hotels and similar accommodation

Why it went into administration

Sustained trading losses
Funding withdrawn / unable to refinance
Property / lease costs

From the administrators' statement

The company traded as a hotel in Aberdeen city centre for over 12 years. In April 2017, the Company engaged RSM to undertake an accelerated marketing and sale of the business and assets of the Company. The Company was underperforming with losses being generated on an annual basis which were being funded by the directors. Relevant extracts from the Company's audited financial statements and management accounts are summarised below.

Year ended 31 October

Administrators' statement of proposals (2019-08-22) · Companies House register

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