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125 jobs saved after hotel administration buyout

The Cairn Group has bought two Aberdeen hotels eight months after their owner, European Development Company (EDC), fell into administration.

The Holiday Inn Express City Centre and Holiday Inn Aberdeen West were sold for an undisclosed sum, and 125 jobs were saved in the process.

Why the hotels were up for sale

EDC went into administration following "severe cash flow problems" as a result of the downturn in the oil and gas sector. They also stated that competition was high in the area thanks to the creation of several new build hotels.

It's claimed that the revenue per available room (revpar) in the area during the fourth quarter of last year fell 22%. So it is no surprise that despite high occupancy levels, the owners were facing cash flow problems.

Tom MacLennan and Iain Fraser, who are both partners of the FRP Advisory, were appointed joint administrators of the two hotels. They decided to continue trading while seeking a buyer.

Since the sale, Fraser stated "The administration period provided a vital cushion to allow for a thorough marketing process while the hotels continued to trade as normal".

By entering administration with intention to sell, pressures placed on the business by creditors were lifted and allowed the hotels to create a steady income.

The administrators chose JLL's Hotels & Hospitality Group to sell the two sites on the behalf of the previous owner. They charged with seeking a figure in excess of £7m, and subject to existing franchise agreements with InterContinental Hotels Group (IHG).

Who are the Cairn Group?

The family-run group are based in Newcastle and have a portfolio of over 31 hotels and 30-plus bars across the UK. This includes over 3,000 rooms, 665 of which were bought in 2016 as part of the biggest hotel transaction by a North East company that year.

They bought the hotels with support from Mincoffs Solicitors LLP and HSBC Bank plc. Adding another 241 beds to their portfolio.

The group already owns and operates two hotels within Aberdeen - the Station Hotel and Best Western Summerhill Hotel and Suites. This gives the group confidence that they can turn the fortune of the hotels around as the regional market recovers.

Richard Warren, Cairn Group’s finance director said:

“We are pleased to announce that Holiday Inn Express City Centre and Holiday Inn Aberdeen West have joined our portfolio. Aberdeen is still a busy thoroughfare for the corporate audience and as a result, the convenient locations of the hotels make them popular with visiting trade as well as tourism.

“It’s fantastic we’ve been able to retain all of the staff based at the two sites who are dedicated to providing excellent customer service and comfortable stays for guests.”

If you think administration might be right for your business, get in touch with the experts at Company Rescue today.

March 2017 - Insolvency Notices

Creditors Voluntary Liquidation Notices

3x3 Solutions limited 

A Meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 5 April 2017 at 11:15am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/3x3-solutions-limited-creditors-voluntary-liquidation-notice

DTDA Engineering Limited


A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 4 April 2017 at 2.15pm for the purposes mentioned in Section 99 to 101 of the said Act.
at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 4 April 2017 at 2.15pm

http://www.companyrescue.co.uk/insolvency-notices/dtda-engineering-limited-liquidation-notice


Icon Project Management Limited

A meeting of the Creditors of the above named Company will be held at will be held at Premier Inn Chorley North, Moss Lane Whittle-Le-Woods Lancashire PR6 8AB on 3 April 2017 at 11.45 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/icon-project-management-limited-liquidation-notice

February 2017 - Insolvency Notices

Creditors Voluntary Liquidation Notices

The Green Electrician Group Limited

A meeting of the Creditors of the above named Company will be held at the offices of Premier Meeting Stoke (Trentham Gardens), Stone Road, Stoke on Trent, Staffordshire, ST4 8JG on 28 February 2017 at 12.00 pm for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/the-green-electrician-group-limited-liquidation-notice



Field Farm Limited

A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 9 March 2017 at 11:15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/field-farm-limited-liquidation-notice


Suzco Limited

A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 1 March 2017 at 2:15 pm for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/suzco-limited-liquidation-notice


Kleencare Service Limited

A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 23 February 2017 at 11:15 for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/kleencare-service-limited-liquidation-notice


UJK Enterprise Limited 

A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 21 February 2017 at 10.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/ujk-enterprise-limited-liquidation-notice


Sapienti Consulting Limited

A meeting of the Creditors of the above named Company will be held the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 21 February 2017 at 2.15pm for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/sapienti-consulting-limited-liquidation-notice


Manoss Interiors Limited

A meeting of the Creditors of the above named Company will be at Travelodge Tamworth M42, Moto Service Area, Green Lane, M42 Motorway Junction 10, Tamworth, Staffordshire B77 5PS on 15 February 2017 at 2.15 pm for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/manoss-interiors-limited-liquidation-notice



Aptus Solutions Limited

A meeting of the Creditors of the above named Company will be held at at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 22 February 2017 at 11:15 am for the purposes mentioned in Section 99 to 101 of the said Act.
http://www.companyrescue.co.uk/insolvency-notices/aptus-solutions-limited-liquidation-notice

Rent quarter day looming

Landlords are preparing to issue their invoices for 25th March (rent quarter day) and this can often be tough for retailers and the hospitality industry. Various retailers have been struggling of late, including Agent Provocateur, Jones The Bootmaker and the owner of Budgens. There may be more troubled businesses on the horizon, especially with the change to business rates (which are predicted to increase substantially in major cities across the UK).

Even though quarterly rent may be enshrined in the lease agreement, landlords are often open to negotiation and may accept monthly rental payments with little or no penalties. The landlord can ask for interest on any overdue rent as per the lease but this might be worth it so the business can survive. 

You could also ask for a rent concession. This is most common in shopping centres where the landlord owns the whole building. By helping one business, others can be helped too. The last thing a landlord wants is a group of empty shops which will detract from the centre as a whole.  

If your retail business is struggling with a high rent bill, then an alternative option could be a company voluntary arrangement (CVA). A CVA can terminate onerous leases, giving the opportunity to close down under-performing stores or premises. Read our retailer rescue page for more information. 

January 2017 - Insolvency Notices

Creditors Voluntary Liquidation Notices

TSP Formwork Ltd

A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 1 February 2017 at 10.45 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/tsp-formwork-ltd-liquidation-notice


C A Access Services Limited

A meeting of the Creditors of the above named Company will be held at The Park Hotel, Dunningsbridge Road, Netherton, Liverpool, L30 6YN on 7 February 2017 at 11.45am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/c-a-access-services-limited-liquidation-notice


Martins The Jewellers (Mansfield) Limited


A meeting of the Creditors of the above named Company will be held at Premier Meetings, Carter Lane East, South Normanton, Mansfield, DE55 2DY on 15 February 2017 at 11:15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/martins-the-jewellers-mansfield-limited-liquidation-notice


Pountney Trading Limited

A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 9 February 2017 at 10:45 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/pountney-trading-ltd-liquidation-notice


TDI Point Ltd 

A meeting of the Creditors of the above named Company will be held at Holiday Inn Express Newcastle – Metro Centre, Clasper Way, Swalwell, Newcastle upon Tyne, NE16 3BE on 14 February 2017 at 11.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/tdi-pont-ltd-creditors-voluntary-liquidation-notice

December 2016 - Insolvency Notices

Creditors Voluntary Liquidation Notices

Latin Gold Limited

A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 22 December 2016 at 10:15am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/latin-gold-liquidation-notice


Xcite Limited

A meeting of the Creditors of the above named Company will be held at Jury’s Inn Aberdeen, Union Square, Guild Street, Aberdeen, AB11 5RG on 17 January 2017 at 1.45 pm for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/xcite-limited-liquidation-notice



Fredan Engineering Limited

A meeting of the Creditors of the above named Company will be held at The Holiday Inn Rugby, Northampton, M1 Junction 18, Crick, Northamptonshire, NN6 7XR on 12 January 2017 at 11:45 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/fredan-engineering-limited-liquidation-notice



Lakdale Limited

A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, C12 Marquis Court, Marquisway, Team Valley, Gateshead, NE11 0RU on 13 January 2017 at 2.15 pm for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/lakdale-limited-liquidation-notice


Steelalmet Ltd 

A meeting of the Creditors of the above named Company will be held held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 5 December 2016 at 11.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/steelalmet-ltd-liquidation-notice

November 2016 - Insolvency Notices

Creditors Voluntary Liquidation Notices

Olivia's Artisan Food's Limited 

A meeting of the Creditors of the above named Company will be held at Premier Meetings Newcastle (Washington), Emerson Road, Washington, NE37 1LB on 13 December 2016 at 11:15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/olivia-s-artisan-food-s-limited-liquidation-notice



Curleyman Limited

A meeting of the Creditors of the above named Company will be held at KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 6 December 2016 at 11.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/curleyman-limited-liquidation-notice


Crafts Made in Wales Limited

A meeting of the Creditors of the above named Company will be held at the Premier Inn Cardiff City Centre, 10 Churchill Way, Cardiff, South Glamorgan, CF10 2NB on 8 December 2016 at 1.15 pm for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/crafts-made-in-wales-limited-liquidation-notice


Iflame World Limited

A meeting of the Creditors of the above named Company will be held at the the offices of KSA Group Limited, 99 Bishopsgate, London, EC2M 3XD on 7 December 2016 at 14.15pm  for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/iflame-world-ltd-liquidation-notice


Feelin Hungry Limited 

A meeting of the Creditors of the above named Company will be held held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 5 December 2016 at 11.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/feelin-hungry-limited-liquidation-notice


101 Furniture Limited

A meeting of the Creditors of the above named Company will be at the Copthorne Hotel Merry Hill Dudley, The Waterfront, Level Street, Brierley Hill DY5 1UR, United Kingdom on 1 December 2016 at 11.45 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/101-furniture-limited-liquidation-notice


Coolex Limited


A meeting of the Creditors of the above named Company will be held at at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 16 November 2016 at 11.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/coolex-ltd-liquidation-notice


Liberte Developments Limited

A meeting of the Creditors of the above named Company will be held at the Premier Meetings Chorley North, Moss Lane Whittle-Le-Woods Lancashire PR6 8AB on 22 November 2016 at 11.15 am for the purposes mentioned in section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/liberte-developments-limited-liquidation-notice


Premier Assist Limited 

A meeting of the Creditors of the above named Company will be held held at the Wrest Park Enterprise Centre, Building 52, Silsoe, Bedford, MK45 2HR on 14 November 2016 at 11:45 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/premier-assist-limited-creditors-voluntary-liquidation




October 2016 - Insolvency Notices

Creditors Voluntary Liquidation Notices

Hobo-Web Limited 

A meeting of the Creditors of the above named Company will be held at the Holiday Inn Express Strathclyde Park M74, Jct.5, Hamilton Road, Strathclyde, ML1 3RB on 11 November 2016 at 11.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/hobo-web-limited-liquidation-notice

Wahleeah Limited

A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 18 November 2016 at 2.15 pm for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/wahleeah-limited-liquidation-notice


Scandata UK Limited

A meeting of the Creditors of the above named Company will be held at Gresley House, Ten Pound Walk, Doncaster, DN4 5HX on 4 November 2016 at 11.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/scandata-limited-liquidation-notice


W Head Gas Services Limited

A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 18 November 2016 at 11.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/w-head-gas-services-limited


Courtfield Solution Limited 

A meeting of the Creditors of the above named Company will be held held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 16 November 2016 at 2:15pm for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/courtfield-solution-limited-liquidation-notice



Grenzl Limited

A meeting of the Creditors of the above named Company will be at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 19 October 2016 at 11:15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/grenzl-limited-liquidation-notice

Documents show RBS' poor treatment of struggling businesses

Update 10/10/2016: documents have been leaked, supporting Tomlinson's views in his 2013 report. They show how RBS urged staff to search for companies in need of 'financial restructuring' and then bumping up interest rates. Continue reading the latest news piece

02/03/2015 - 205 small and medium sized businesses are uniting to sue RBS, over the bank’s restructuring department (Global Restructuring Group) and its handling of struggling businesses.

RBS and GRG have been involved in investigations since 2013 when the Tomlinson Report revealed small businesses were allegedly forced to go bust under GRG’s supervision, ensuring the bank would profit from fees and assets. The FCA is currently looking into GRG’s actions before it is wound down by RBS. 

Enyo Law firm, Lord Pannick QC and Andrew Hunter QC will represent the SMEs involved, known as the RBS GRG Business Action Group. Various senior employees from RBS will be called upon in the case, including former chairman Sir Philip Hampton, former deputy chief executive Chris Sullivan, GRG boss Derek Sach and RBS head of property Aubrey Adams.

In KSA's view, this is a positive step forward as banks should be helping struggling businesses, not pushing them further into insolvency. If a company is no longer viable to carry on, then the administration and sale of assets should be referred to an external organisation and not the bank's own restructuring division. This would avoid suspicion of any wrongdoing or poor handling. 

Hopefully there will be a positive outcome later this year. 

September 2016 - Insolvency Notices

Creditors Voluntary Liquidation Notices

Duncan McLaren Limited t/a Duncan McLaren 

A meeting of the Creditors of the above named Company will be held held at the Premier Inn Edinburgh Park, 1 Lochside Crescent, Edinburgh, EH12 9FX on 10 October 2016 at 11.45 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/duncan-mclaren-limited-t-a-duncan-mclaren-liquidation-notice


Wave SP Limited


A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 7 October 2016 at 11.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/wave-sp-limited-liquidation-notice


Zenair Technical Limited


A meeting of the Creditors of the above named Company will be held at at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 13 October 2016 at 11.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/zenair-technical-limited-liquidation-notice


Telegraph Hill Limited

A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 4 October 2016 at 11.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/telegraph-hill-limited-creditors-voluntary-liquidation-notice


Meeting Point Conferences (Europe) Limited 

A meeting of the Creditors of the above named Company will be held held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 23 September 2016 at 11.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/meeting-point-conferences-europe-limited-liquidation-notice


Force Interbrook Ltd

A meeting of the Creditors of the above named Company will be held at at the offices of KSA Group Ltd, Chancery Place, 50 Brown Street, Manchester, M2 2JG on 22 September 2016 at 11.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/force-interbrook-ltd-liquidation-notice


Mac Professional Solutions Ltd

A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 14 September 2016 at 12.00 pm for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/mac-professional-solutions-ltd-liquidation-notice


Mac C2 Ltd


A meeting of the Creditors of the above named Company will be held at the offices of KSA Group Ltd, 99 Bishopsgate, London, EC2M 3XD on 14 September 2016 at 11.15 am for the purposes mentioned in Section 99 to 101 of the said Act.

http://www.companyrescue.co.uk/insolvency-notices/mac-c2-ltd-liquidation-notice
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