A London-based luxury Thai restaurant chain has entered into administration
due to debt problems.
The restaurants turnover about £600,000 a year each, and administrators hope
to sell them as going concerns.
‘It would appear that the business has hit financial difficulties due to
over-gearing but we’re hopeful that a buyer, perhaps someone already looking to
expand in the restaurant sector, can be found. No jobs will be affected whilst
we continue to trade the business,’ said joint administrator Andrew Stoneman.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies