Suffering from stress or losing your property because of a badly performing business
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What is an HMRC Notice Of Enforcement?
Any creditor who is owed money has the power to serve a Notice of Enforcement if they obtain a court order. HMRC or landlords do not need a court order, however they must still obey strict regulations to retrieve debt.
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Birch Hotel Properties Go Into Administration With Cheshunt Site Closing Immediately
Birch, the lifestyle membership club which has sites in Cheshunt (Hertfordshire) and Seldson (South Croydon), has placed both hotel properties into administration. This has been due to cashflow difficulties and the inability to reinvest in the properties. Birch Cheshunt Birch's 140-room Cheshunt hotel opened in 2020 with backing from Aprirose. Prior to this, the site was known as De Vere Theobalds Estate Hotel.Administrators from Teneo closed the hotel with immediate effect and announced the closure on the properties website.This property has a bakery, fitness studio, screening rooms, 20 event spaces, three bars, a farm and two restaurants led by chef Robin Gill, to its grounds.Since its opening the co-founders of Birch, Chris Penn and Chris King, had left the business.Employees of Birch Cheshunt in particular have taken to social media to share of their shock and distress. They are seeking help with finding work after being made unemployed overnight. If you are an employee of any of these properties in administration, please see our advice guide. Birch Selsdon For Birch Selsdon, the 181-room hotel is still trading but under the control of administrators from the appointed, Moorfields Advisory.Milan Vuceljic, partner at Moorfields, said: "The Birch hotel group had a unique market proposition, which fitted with today's health and wellbeing culture whilst still boasting a Greater London location. We are currently continuing to trade the hotel whilst we explore various options, which we believe provides a good opportunity for potential purchasers."This property has two restaurants ran by chef Lee Westcott along with a pottery studio, wellness space, reading room, arcade and interactive kitchen to its grounds.Ayo Akinsete is the managing director who saw the opening of this site and is now a part of the senior management team newly appointed to oversee both sites. Company Rescues take: ''The first three years of a new business are always the most difficult. The collapse of Birch is not unusual at this stage particularly in the hospitality sector. With so many potential influencing factors, it comes no surprise. The cost of living means less people able to afford going out, especially to higher end luxury locations, such as these.''
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Dot Dot Loans Goes Into Administration
Dot Dot Loans owner the Morses Club and Shelby Finance has gone into administration with the loss of 101 jobs. 272 staff remain across the two firms whilst the administrators look for a rescue or sale.Ed Boyle and Rob Spence from Interpath Advisory have been appointed as joint administrators.The companies have been under financial stress since the Morses Club is now facing lots of customer redress claims for offering them unaffordable loans.In May 2023, the Morses Club entered into a Scheme of Arrangement which is a system of restructuring used for complex financial companies and trusts and is administered by lawyers.The administrators said; “However, despite management’s best efforts, Morses Club has been unable to complete the refinancing of its existing debt facilities and therefore, the directors took the decision to appoint administrators to the businesses.As a result of the insolvency of Morses Club, the scheme automatically terminates early – further information regarding the impact on customers who submitted a claim in the scheme is available on its website”Shortly prior to the appointment of the joint administrators, all new lending ceased, but the companies continue to collect outstanding loans from customers.Administrators said it was "important that customers continue to make payments on outstanding loans as they fall due, as not doing so is likely to impact their credit rating/profile and their ability to borrow".The joint administrators will be working with the employees affected by redundancy over the coming days to provide them with support.
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