Administrations timeline

For redundancy timeline, click here January 2010 Developers/Investors Thornfield Ventures Limited, a subsidiary of HBOS-backed Thornfield Properties, is placed into administration Iain Wotherspoon’s Kilmartin Holdings and Kilmartin Property Group are placed into receivership, while his Annfield Assets are placed into administration Retail and leisure Childrenswear retailer Adams is placed into administration for the third time in three years Von Essen Hotels is rumoured to be eyeing Gravetye Manor, the country house hotel in West Sussex that collapsed into administration last week Fashion retailer D2 is placed into administration Total administrations or receiverships = 7   December 2009 Developers/investors Lloyds Banking Group has orchestrated a pre-pack administration at Ashwell Property Group, which was run by former Hammerson director Sven Töpel Retail/leisure  Fashion retailer D2, formerly owned by Sir Tom Hunter, is placed into administration. Accountancy firm BDO is appointed adminstrator to its 76-store portfolio Segafredo Zaenetti Espresso puts Puccino’s coffee shops into administration Pub company Pubs ‘n’ Bars is placed into administration. Grant Thornton has been appointed to handle the administration of the AIM-listed operator Escadia UK is sold to Escadia UK Subco Limited in a pre-pack administration. KPMG did not disclose the price for the luxury clothing retailer Portfolios Two property portfolios sold by Royal Bank of Scotland for £175m have been put into receivership in one of the largest loan defaults seen so far during the downturn The Liberty 1 and Liberty 2 sale-and-leaseback portfolios were bought by private investor Joseph Ackerman in 2005 and 2006 respectively Total administrations or receiverships = 6   November  2009 Developers/investors Kenmore becomes the fifth major property firm to fall victim to the credit crunch, with Grant Thornton appointed to take control of 24 of its ventures Retail Borders UK goes into administration after failing to find a buyer Portfolios A £116m UK portfolio amassed by failed investment bank Lehman Brothers is put into receivership Total administrations or receiverships = 3 October  2009 Developers/investors The high court appoints Ernst & Young as administrator for six Simon Halabi properties worth £500m Retail  Eighty-one staff in the head office of Threshers owner First Quench Retailing have been made redundant following the retailer’s collapse into administration on Thursday. KPMG, the administrator, said it was likely that some of the company’s 1202 stores will close and further redundancies will be made BB’s Coffee & Muffins chain collapses into administration. PKF was appointed administrator to the 150-strong coffee chain on 6 October Wine Cellar has had the bulk of its 170 off-licence and convenience stores sold in a pre-pack administration Leisure Regent Inns is poised to offload 19 uneconomic sites through a pre-pack administration Sir John Ritblat’s fledgling pub group, Merchant Inns, appoints administrators Clapham House Group’s Tootsies restaurant business has been placed into administration BDO Stoy Hayward was appointed administrator to Tootsies Restaurants Limited, Urban Dining Limited, Tootsies Holdings Limited and TD Scotland Limited on 12 October Agents King Sturge places its Spanish arm into liquidation Total administrations or receiverships = 10   September 2009 Developers/Investors The Silverburn shopping centre, near Glasgow, is to be sold after the Isle of Man-based Elementary Property Company, which owns Retail Property Holdings, the developer and owner of the 1m sq ft centre, fell into receivership A compulsory winding-up order was presented by Gleeds (Bristol) Partnership against Spring Urban Regeneration – a wholly owned subsidiary of Castlemore Securities Retailers Blacks Leisure calls in administrators to find a taker for Sandcity, which operates 11 O’Neill shops High and Mighty, the retailer selling clothes for large men, has slipped into administration but a new owner is waiting in the wings who says he will be looking for new sites Leisure  Panther Bar falls into administration – the group operates 18 free-of-tie tenanted pubs in the North of England Total administrations = 5     August 2009 Developers/Investors A further two companies related to Grahame Whateley’s £1bn Castlemore property empire are wound up Castlemore Sydenham Limited and Castlemore Ranger 3 Limited are placed into liquidiation Lancashire-based Dylan Harvey Residential collapses into administration Retail  Schoolwear retailer JB Ward and Company is placed into administration Bond Street antiques retailer Partridge Fine Art goes into administration Leisure The collapse of Premium Bars & Restaurants’ sale to the Reuben brothers prompts the appointment of administrators from BDO Stoy Hayward Total administrations = 5   July 2009 Developers/Investors The developer behind the Abacus Building apartment block in Digbeth, Birmingham, falls into administration. Old House Holdings, the parent company of Concept Development Solutions which built the scheme, calls in administrator BDO Stoy Hayward Marconi House, the Silken hotel and residential scheme under construction at the junction of the Strand and the Aldwych in central London, goes into fixed charge receivership A 15th company related to Grahame Whateley’s £1bn Castlemore property empire falls into administration PricewaterhouseCoopers was last week appointed administrator of Castlemore Ventures, which owns 13 properties across the country, the majority of which are let to bingo club operator Top Ten Zegna III Holdings goes into administration. The Icelandic offshore property investment company acquired a prime residential site in central London in June 2007 for £85m Retail  KPMG is appointed as administrator of coffee bar and deli chains Coffee Republic (UK), Coffee Republic Franchising and Goodbean Lombok, the high street furniture and accessory retailer, is placed into administration and its name and assets sold onto a financial consortium led by Privet Capital and Paradigm BNP Paribas Real Estate and niche firm M Squared are appointed to sell 167 Allied Carpets stores that were not rescued from administration by their former management when it collapsed last week Lingerie designer and retailer Intimas goes into administration Leisure KPMG, administrator to Barnsley House Ltd, sells Barnsley House Hotel and The Village Pub in Barnsley, Gloucestershire, to Calcot Health and Leisure Total administrations = 9   June 2009 Developers/Investors Paul Kemsley, the property investor, fails to make his annual appearance on Sir Alan Sugar’s BBC show The Apprentice as his property company Rock Investments collapses into administration under £500m of debt from HBOS Seven more subsidiaries of Manchester-based Modus Group are placed into administration Modus Corovest, the vehicle set up by Manchester-based retail developer Modus to hold the Houndshill Shopping Centre in Blackpool, is placed into administration Private developer Junared Group of Companies goes into administration Brampton Asset Management (Leicester), the developer behind refurbishment plans for Leicester city centre’s Thames Tower, falls into administration Agency A petition by pub giant JD Wetherspoon to wind up its former property agent, Van de Berg & Co Ltd, is granted by the high court Retailers KPMG is appointed as administrator of coffee bar and deli chains Coffee Republic (UK), Coffee Republic Franchising and Goodbean Allied Carpet Properties, which owns the leases to the retailer’s vast portfolio, files notice of intention to appoint BDO Stoy Hayward as administrator Edward Symmons is instructed to sell around 100 O’Briens sandwich shops on behalf of administrator ReSolve Partners Leisure Leisure McKever Group goes up for sale after falling into administration. The Scottish hotel, apartment and hostel operator has 20 properties Total administrations = 18 May 2009 Developers/Investors Modus Ventures, the Manchester-based commercial property developer behind Wigan’s Grand Arcade and Blackpool’s Houndshill shopping centre, is put into administration by its lenders Imagine Homes, which was owned by Grant Bovey until October last year when he transferred his ownership to lender HBOS, collapses into administration. Begbies Traynor confirms it has been appointed by Peel Holdings as receiver on two parcels of land at Salford Quays that had been earmarked for a residential development by KW Linfoot Buildings and project consultancy CNP is placed into administration A luxury residential development where pop legend Sir Cliff Richard had bought a £2.5m home is placed into administration Pinton Estates, an investment vehicle of F&C REIT chairman Leo Noe, is placed in the hands of Deloitte after it failed to collect enough rent to make a half-yearly payment on a £70m bond Serviced office provider MLS Group disposes of the majority of its remaining centres to its rivals as it winds up its UK business Retailers High street greeting cards retailer Clinton Cards places its 332-store Birthdays subsidiary into administration. The majority of Bay Trading’s 175 stores expected to close. Family members of a rival fashion group have bought the Alexon-owned clothing chain out of administration Total administrations = 9     April 2009 Developers/Investors Serviced office provider MLS Group puts its principal subsidiary into liquidation Flexible business space provider Workhotel is placed into administration Administrators from Ernst & Young have been appointed to 28 of WG Mitchell’s 75 companies Development Securities has appointed receivers to repossess the Oriental City development in Colindale, north London, after private investor Peter Virdee failed to complete the acquisition Five UK shopping centres, including one owned by a Simon Halabi vehicle, have been placed in the hands of LPA receivers at GVA Grimley Leisure Administrators of the Liverpool brewer and pub operator Cains have sold 23 pubs to Amber Taverns Retailers Fashion chain Bay Trading collapsed into administration putting about 1,000 jobs at risk Total administrations = 11   March 2009  Property funds and investment vehicles Lloyds Banking Group withdrew its support for Martin Myers’ and Manish Chande’s Mountgrange Capital, pushing it into administration. Howard Holdings Weymouth, a vehicle set up by Irish developer Howard Holdings, was wound up at Bristol’s high court on 19 March) after Weymouth and Portland council demanded the payment of £23,000 due to it. Tony Pidgley Jr placed his residential company, Cadenza, into voluntary liquidation. The 350,000 sq ft Merseyway shopping centre in Stockport owned by special purchase vehicle Stockport Holdings placed into the hands of LPA receivers. The £150m Trinity Walk development in Wakefield town centre was been placed into administration after backer Anglo Irish pulled its funding. Housebuilders Residential developer and landlord Nice Group has appointed an administrator. Wrekin Construction Group has gone into administration. Retailers Retail giant Baugur Group has filed for bankruptcy after the District Court of Reykjavik refused an extension of its moratorium. Ernst & Young closed another 30 Rileys snooker and pool halls after the company underwent a pre-pack administration KPMG shut a further 10 stores from JJB Sports collapsed lifestyle division. Diamonds and Pearls has fallen into administration putting a question mark over the fate of the high street jewellers’ 300 staff and 91 stores. Mosaic has been put into administration leaving uncertainty over the future of several of its operating divisions. Total administrations = 12   February 2009 Developers Castlemore Securities, one of the UK’s best-known developers with a £1bn development pipeline, is placed into administration alongside 16 subsidiaries Edinburgh-based private property group FM Group places 10 subsidiary companies into administration Land regeneration specialist Cofton Group goes under Well-known Leeds-based property developer KW Linfoot, headed up by Kevin Linfoot, hits the buffers Australian property tycoon Jim Raptis’s Raptis Group collapses into administration owing creditors as much as AS$1bn (£0.45bn) Housebuilders Luxury homes firm LandMarque is the latest casualty in the UK’s housing market collapse Agents TV personality Phil Spencer has made all 10 staff redundant at the Chelsea office of his property search businesss Garrington Home Finders, which has fallen into administration Property funds and investment vehicles Pan-European real estate investor Akron Management Holding, a division of Vienna-based Akron Group Retailers JJB Sports places the Original Shoe Company and Qube into administration. Administrator KPMG closed about 45 of the 77 stores immediately Leisure City Retreats, the owner of luxury Leeds hotel The Ellington, goes under Celebrity chefs Antony Worrall Thompson and Jean-Christophe Novelli place businesses into administration. Worrall Thompson’s AWT Restaurants, which comprised seven leasehold restaurants, collapsed after Lloyds Banking Group refused to extend its overdraft by £200,000 Two gastro-pubs in Berkshire and Hertfordshire, run by Novelli, were also placed into administration following a dispute with investors Total administrations = 13   January 2009 Housebuilder Scottish housebuilders Coopersknowe Developments and Henderson House Developments fold as downturn deepens Oakdene Homes becomes the first UK-listed housebuilder to go into administration because of the slump in the residential market Retailers Barratts Shoes and Priceless Shoes, Sofa Workshop, independent electrical retailer Empire Direct, women’s fashion chain Viyella, online retailer Passion for Perfume all fall into administration Bradford-based menswear retailer Greenwoods collapses into administration and is brought out by a subsidiary of one of China’s largest clothing retailers Deloitte, administrators to furniture retailer Land of Leather, prepares to close 33 of its 109 stores Administrators to the children’s fashion chain Adams prepare to close down all of its 271 outlets Leisure Several potential suitors express an interest in The Real Hotel Group as it falls into administration Restaurant chain FishWorks is bought out of administration by UK entrepreneur Ranjit Boparan Shelley Sandzer hired by administrator Begbies Traynor to sell Japanese restaurant Aaya in W1. The restaurant, owned by Gary Yau, falls into administration The owner of London’s Trocadero is chasing Planet Hollywood for more than £500,000 in dilapidations after the celebrity-themed burger chain placed its London business into administration Total administrations = 13 December 2008 Retailers Sir Tom Hunter-backed fashion retailer USC, music and DVD specialist Zavvi and home furnishings retailer The Pier all fall into administration Tea and coffee retailer Whittard of Chelsea is sold to a private equity firm after going under Leisure Punch Taverns expects to have to take back up to 43 of the leasehold pubs it sold to Orchid Group following the buyer’s administration The Folio Hotels Group, one of the UK’s largest independent operators of three- and four-star hotels, has gone into administration following a sharp decline in trading Agency  King Sturge has been forced to put its Spanish subsidiary into administration after seeing fee income “fall off a cliff” this year Property funds and investment vehicles A major subsidiary of UK fund manager aAIM, JCCO 114 and Roger Smee’s Rock Capital Group go into administration Developers Three Spanish property companies under pressure from debts have filed for voluntary administration Total administrations = 12 November 2008 Housebuilders Yorkshire-based housebuilder and developer Magellan Residential falls into administration Retailers The prospect of millions of square feet of empty space flooding an already stressed market loomed over the country’s town centres today as Woolworths and MFI were both placed in administration  MK One is in administration for the second time this year Fashion label Ghost has been saved from collapse. It has been bought by the owner of the shirtmaker Hawes & Curtis Agency Liverpool residential and commercial agency firm Venmore Partnership begins emergency talks over the future of the business Property Funds Developers – Yorkshire-based developer York House Construction has gone into administration Total administrations = 6 October 2008 Housebuilders Housebuilder David McLean, two Scottish residential developers, Scottish luxury residential developer Gregor Shore and Edinburgh-based Anderson Homes go under Leading Irish and UK housebuilder Taggart Holdings’ Irish property portfolio has been taken control of by administrator PricewaterhouseCoopers Retailers Sixty UK, which operates Miss Sixty and Energie fashion labels, goes under while the former company secretary of quirky fashion retailer Joy temporarily rescues the business from administration. Leisure Agency Liverpool residential and commercial agency firm Venmore Partnership begins emergency talks over the future of the business. Property funds and investment vehicles Buy-to-let hotel group GuestInvest collapses into administration after HBOS refused to offer any further funding. Developers Leeds-based property group SRM Holdings, which is owned by former Leeds United director Simon Morris, has gone into administration. Total of administrations – 9 September 2008 Property funds and investment vehicles Dunedin’s Industrious fund goes under after talks between its lenders and creditors broke down. Blackstone is advising lenders to a failing Jersey-based property group – Level One – that has sold millions of pounds of bonds to UK investors, which are now in default Developers Property development company Asquith Properties goes into administration Total administrations = 3 August 2008 Retailers An unidentified upmarket retail chain buys General Trading Company Food & Drink Group has gone into administration. Leisure The fitness club operator Esporta looks increasingly likely to be broken up as its main creditor tries to secure a sale Agency Mayfair-based residential agent Blenheim Bishop winds down most of its operations, three months after its founder took the business back from struggling chain Humberts Developers Liverpool-based Vermont Developments is put into administration by one of its shareholders Self-storage company Personal Storage folds Total administrations = 6 July 2008 Housebuilders Ballantyne Homes goes into administration leaving new home owners on two South Wales estates living next to half-completed houses Receivers conduct a sell off of parts of Midlands developer Chase Midland’s business after some of its subsidiaries went in to administration last week with the loss of 157 jobs City Lofts, the former AIM-listed company associated with Sir Terence Conran, goes under Retailers Scottish coffee shop chain Beanscene and Beds Direct fold under the pressure Leisure Sixteen bar outlets are up for grabs following the administration of Herald Inns and Bars Agency Norfolk estate agent Elliots goes into liquidation Property funds and investment vehicles  A last-ditch attempt by Dawnay Day to save its UK property empire from collapse fails after one of its principal lenders called in the administrators Total administrations = 8 June 2008 Retailers Ilva UK goes into administration Agency  Humberts places its trading subsidiary into “pre-pack” administration and is immediately bought by Mercantile Group for £3.16m Total administrations = 2 May 2008 Retailers – Fabric Warehouse goes under MK One goes into administration just three weeks after Hilco bought the lossmaking fashion chain from Baugur Merseyside retailer Ethel Austin is bought out of administration by fashion stalwart Elaine McPherson Property funds and investment vehicles  Inside Track, the largest buy-to-let property club in the UK, goes into administration Total administrations = 4 April 2008 Retailers Scotland’s Ossian Retail Group, which owns the fashion chain Internacionale and Au Natural homeware outlets, is poised to go into administration Bed retailer Sleep Depot enters administration after it failed to secure financial backing Agency The Erinaceous Group finally falls into administration with debts of more than £250m Total administrations = 3 March 2008 Retailers Select Retail goes into administration just weeks after Turkish investor Cafer Mahiroglu saved it from collapse with a £13m injection Leisure  The Laurel Pub Company, owner of the Slug and Lettuce, Hogshead and Yates chains, collapses with some 388 pubs placed in administration Agency Bristol-based Oliver Scarlett, a franchise for the nationwide chain of estate agents Your Move, calls in administrators Hazlewoods Total administrations = 3 February 2008 Retailers Fashion chain Elvi falls into administration just weeks after its private equity backers Langholm Capital left the business The Works becomes the third high-profile UK retailer in less than two weeks to enter administration, in a further sign of how acute high street hardship has become Property funds and investment vehicles  A Spanish SPV run by Europa Capital Partners and the General Property Investment Company (GPIC), Sir John Beckwith’s outfit, falls into administration Total administrations = 3 January 2008 Retailers Shoe Zone buys Stead & Simpson out of administration for an undisclosed price Dolcis attracts the interests of around 40 buyers, according to administrator KPMG Leisure The eight-strong chain of Sports Café bars has gone into administration. Property funds and investment vehicles Westport Land, a company run by seasoned investors Phillip Nelson and Simon Bakewell, goes into administration after breaching a loan agreement when it failed to sell £100m worth of property Total administrations = 4