BND Properties Limited (SC466825): administration
- Status
- Administration ended
- Administration began
- 2017-04-18
- Administrators
- Derek Murray Law Forsyth, Blair Milne
- Administrators' firm
- Azets
- Incorporated
- 2014-01-07
- Location
- Glasgow
- Industry
- 09100 Support activities for petroleum and natural gas mining
Why it went into administration
- Property / lease costs
From the administrators' statement
The Company was incorporated on 7 January 2014 under Company number $C466825. Its registered office is at Suite 2/3, 106 Hope Street, Glasgow, G2 6PH. The Company owns and trades from a public house known as The Blinny, 144-158 Main Street, Shotts,
I have not received full details of the background history of the Company from the Directors. The following commentary is therefore based on the information obtained in our discussions with them.
The Directors purchased the pub in 2014, with neither of them having much experience in this type of trade. The Company soon began having financial difficulties and ran into arrears with rates, utilities, some suppliers and also repayment of the secured borrowings over the property. In an attempt to resolve the position, the Directors attempted to sell the business around a year ago and instructed an auctioneer to assist with this. However, no suitable offer was received.
Administrators' statement of proposals (2017-06-13) · Companies House register