Morningside Residential Ltd. (SC382082): administration
- Status
- Administration ended
- Administration began
- 2014-03-21
- Administrators
- James Bernard Stephen, Bryan Jackson
- Administrators' firm
- BDO
- Incorporated
- 2010-07-16
- Location
- Glasgow
- Industry
- 87100 Residential nursing care facilities
Why it went into administration
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 16 July 2010 and its head office was located at 7 Barrmill Road, Beith, KA15 1EU. The Company’s principal activity was that of a Care Home for the elderley.
The Director purchased the business & assets as a going concern in July 2010. The Company traded as a care home (Morningside Residential Care Home) which provided full time care for elderly and retired residents. The home had a capacity of 13 beds and required to operate at full capacity in order to generate a profit.
The Company relied upon rental income from its residents and the local authority to trade the business. Unfortunately during the last 6-12 months the Company encountered difficulties with the local council/care inspectorate where it received poor inspection reports. The Company’s inability to improve their inspection rating ultimately lead to the local authority placing a moratorium over the home. This resulted in the Company being unable to fill vacant places in the home and thereby impacting on profitability.
Administrators' statement of proposals (2014-05-20) · Companies House register