Case Study - Administration of sports facility

Overview:

  • Former Pfizer sports facility bought and refitted as private health and leisure facility
  • Inadequate pre-purchase research – price paid too high and results far below break-even
  • Necessary to continue trading while marketing

Investment:

  • ABL – £530K
  • Kent CC – £400K
  • Private lender – £350K
  • Director – £1.4M

Outcomes:

  • Levels of interest low but an offer eventually obtained which repaid ABL with an otherwise unexpected return to Kent CC

 

For more information on Administrations, please click here