MRY 500 Ltd (SC400454): administration
- Status
- Administration ended
- Administration began
- 2014-09-29
- Administrators
- Colin Peter Dempster, Gavin Yuill
- Administrators' firm
- EY
- Incorporated
- 2011-05-27
- Location
- Glasgow
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Property / lease costs
From the administrators' statement
The Company was incorporated on 27 May 2011. It acquired the Fox & Hounds pub and restaurant and Houston Brewing Company (the Property) in November 2012 from the previous owner Mr and Mrs Wengel for a consideration of c.£1.2m.
The Company operated the pub/restaurant and the microbrewery from November 2012 until shortly before the Company entered administration when two leases were put in place. The . stated date of entry for these leases were 1 June 2014 (with Red Star to operate the pub/restaurant) and 1 September 2014 (with RL to operate the microbrewery). Both of these leases were signed in early September 2014. From these dates, the pub/restaurant and microbrewery were operated by the Tenants, and the Company's sole business activity was that of a landlord.
The recent financial results of MRY 500 Limited can be summarised as follows:
Administrators' statement of proposals (2014-11-24) · Companies House register