Gillespie (Bath Street) Limited (SC335156): administration
- Status
- Administration ended
- Administration began
- 2012-09-10
- Administrators
- John Bruce Cartwright, Laurie Katherine Manson
- Administrators' firm
- PwC
- Formerly
- MM&S (5328) Limited
- Incorporated
- 2007-12-12
- Location
- Edinburgh
- Industry
- 70100 Activities of head offices
From the administrators' statement
The Company’s assets were secured by a bond and floating charge with Dunfermline Building Society (in Building Society Special Administration) (“DBS”). The Company defaulted on its facilities with DBS and DBS, acting through its Joint Building Society Special Administrators, appointed Administrators to the Company on 10 September 2012. On the same date, Administrators were appointed to the following associated companies: Airdrie North Limited; Fife Regeneration Partnership Limited; GM Drumshangie Limited and Monarch Park Homes Limited (“the Group”). DBS also has cross guarantees in place across the Group.
The manner in which the Company’s affairs and business have been managed and financed
The Joint Administrators have appointed Graham & Sibbald surveyors to market the property at 176 Bath Street, Glasgow, for sale. The Company will receive a short term loan from a related Company in order to meet the expenses of the administration. It is likely that external funding will be required during the course of the administration.
Administrators' statement of proposals (2012-11-05) · Companies House register