Le Petit Blanc’s holding company, which is owned 50% by Orient Express Hotels, called in the administrators at Kroll at the beginning of the month and Alistair Beveridge and Lee Manning were appointed to the job.
Blanc would like to keep his share of the business but the outcome is not guaranteed. His position is like that of any shareholder whose company is in administration.
The administrators have the right to sell all the assets of the business except for the intellectual property, which in this case would be the name. Blanc is expected to meet with investors over the next few weeks, saying the restaurants, which turned over £6.7m last year, still have huge potential. Alistair Beveridge said the company went into administration because of the weak economy.
‘Discretionary spending has dropped and trading has been down. Times are uncertain,’ he said.
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
Smith & Williamson has been appointed administrators of charity 4Children