MHA Auchlochan (SC352117): administration
- Status
- In administration
- Administration began
- 2024-05-02
- Administrators
- Robert Young, Blair Milne, James Fennessey
- Administrators' firm
- Azets
- Incorporated
- 2008-12-04
- Location
- Renfrew
- Industry
- 87300 Residential care activities for the elderly and disabled
Why it went into administration
- Energy costs
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
A.1 The Company was incorporated in 2008 and shortly thereafter it began trading AGV, which is a 50-acre retirement village in South Lanarkshire containing 235 individual homes, as well as the care home, Lower Johnshill.
4.2 The Company’s directors advise that they inherited a number of operational problems when AGV was transferred to the Company on 6 January 2009. These problems included the following;
e = Anobligation to repurchase certain properties when asked to do so (GBB obligations);
Administrators' statement of proposals (2023-06-16) · Companies House register