ICSM Hospitality Business News: concerns mount as The Restaurant Group’s share price plummets plus a list of business failures in the hospitality sector

ICSM Hospitality Business News: concerns mount as The Restaurant Group’s share price plummets plus a list of business failures in the hospitality sector

By Harry Mottram: it is hard to find any good news for the UK’s hospitality sector with various predictions  suggesting a shrinkage in the industry as interest rates bite, energy price rise hikes, inflation remains in double digits, and above all customers staying away due to the Cost of Living Crisis.

Further concerns have been raised after it emerged that the Restaurant Group appear to be in trouble with plans to close dozens of outlets and a near collapse in their share price.

Ian Carrotte of ICSM – the group dedicated to flagging up non and late paying firms and potential company collapses to its members – said there were multiple reports in the trade press showing a fall in consumer spending in the sector. He said ICSM had seen the report in UK Hospitality predicted a third of companies involved in hospitality were in danger of going bust, and The Caterer reporting that consumer spending would fall by two percent this year.

The latest concerns highlighted by Emily Hawkins in the Daily Mail featured the Restaurant Group’s plans to close multiple restaurants and concerns about the performance of its CEO Andy Hornby. He was singled out in her article as something of a liability due to his track record at the HSBO bank which came close to collapse during the Credit Crunch of 2008.

The Restaurant Group operates more than 400 pubs and restaurants as well as concessions in airport with brands such as Frankie and Benny’s, Garfunkel’s and Wagamama (pictured)  in their portfolio. Hit by the pandemic with closures during the lockdowns the group’s share price has fallen 70% in two years according to media reports and has fallen further this year after plans to shut more outlets emerged.

Last summer, The Sea Hotel in South Shields went into administration when its owners The One Collection Leisure Ltd who were part of the High Street Group of companies collapsed owing £211 million pounds. At Christmas the Bliss Hotel owned by Waterfront Southport Properties Ltd in Southport hit the buffers after owing £18 million pounds to creditors. And also last summer in Liverpool the Signature Living Group collapsed with its three hotels in the city entering administration.

Below is a list of recent failures in the hospitality sector:

 

HOSPITALITY: BRASSERIES, BISTROS, CAFES, HOTELS, PUBS, RESTAURANTS

 

ADMINISTRATORS APPOINTED

AIR RESTAURANTS LIMITED    10002032

BOUJEE RESTAURANT AND BAR LIMITED    12905642

DANESFIELD HOUSE HOTEL LIMITED    02999930

 

ADMINISTRATION CREDITORS MEETING   

CASPIAN RESTAURANTS LIMITED    04646547

 

COMPULSORY LIQUIDATOR APPOINTED   

CARMARTHEN BAY HOTEL LIMITED    10191397

 

CREDITORS’ VOLUNTARY LIQUIDATION DEEMED IN CONSENT MEETINGS

AIR RESTAURANTS LIMITED    10002032

AL QUINTON BAR & GRILL LIMITED    13308231

APEX HOSPITALITY LTD    07164401

ASP BARS LTD    11679430

AVALON RESTAURANTS LTD    12168369

BHB RESOURCES LTD    12699657

C & K BARS AND RESTAURANTS LTD    12279679

EAST SUSSEX DINING ROOM LIMITED    11863626

ELITE VENUES LTD    11726238

OLD SAINTS PUBS LIMITED    09906190

QUEEN ANNE'S GUEST HOUSE (YORK) LIMITED    07601770

RESERVOIR HOTEL KEIGHLEY LTD    11026267

THE BOBBIN MILNROW LTD    10844903

THE ROCKET CLUB RESTAURANT LIMITED    04349688

WHITSTABLE TRADING COMPANY LTD    07714455

 

LIQUIDATORS APPOINTED

A1 BUFFET LTD    11979650

ASPEN ENTERTAINMENT LTD    13141575

AZENOR (CORNWALL) LIMITED    10764154

BIR HOTELS PRIVATE ( UK) LIMITED     10737765

BOK RESTAURANTS (EASTBOURNE) LTD    11872216

BOK RESTAURANTS (SOUTHAMPTON) LTD    13374142

CAFE BRERA LIMITED    02614853

COCOJOJO LTD    07521422

DOLORES HOSPITALITY BEVERLEY LIMITED    12096382

DOLORES HOSPITALITY HULL LIMITED    12288968

DOLORES HOSPITALITY LIMITED    11000083

FRANCISCO LONDON LTD    08248449

GLOBAL COFFEE SHOPS LIMITED    04422232

GORDON ARMS (CHISLEHURST) LTD    10782115

HERITAGE PUBS LTD    11304293

INDIAN LUNCH HOUSE LIMITED    08354067

KINDER RESTAURANTS LIMITED    10299948

MAMMA’S ITALIAN BISTRO LTD    11723361

MANIC BARS LTD    13408974

MOUNTS BAY INN MULLION LTD    12749118

NOVO COFFEE HOUSE LTD    11097232

RESERVOIR HOTEL KEIGHLEY LTD    11026267

ROSE & CROWN CARK LIMITED    13536932

SAPIYA THAIKITCHEN LIMITED    11059713

SUTALIA LTD    09664745

THE COPPER KETTLE LIMITED    04281602

THE-HART LOUNGE LTD    11311897

THE HONEYPOT TEAROOMS LIMITED    11177073

UK CREATIVE FOOD AND HOSPITALITY LTD    10610579

 

MEMBERS VOLUNTARY LIQUIDATIONS

A HOTELS MANAGEMENT LTD    11344290

JJ`S @ THE SILVER PLOUGH LTD    10860241

ROSEMOUNT HOTEL LIMITED     06418222

SUPRANATIONAL HOTELS LIMITED    01811106

 

PETITIONS TO WIND UP

ADVENTURES IN HOSPITALITY LTD    11243404

MAYFLOWER MANCHESTER TOWER LIMITED    10846419

 

WINDING UP ORDERS

CAVIAR AND CHIPS LTD    10690010

CLUB HOSPITALITY'S LIMITED    08300903

FESTIVAL HOTELS (HALIFAX) LIMITED    12605427

 

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ICSM, The Exchange, Express Park, Bristol Road, Bridgwater, Somerset TA6 4RR. Tel: 0844 854 1850. www.icsmcredit.comIan.carrotte@icsmcredit.com

About ICSM Credit

ICSM Credit has more than four decades of experience as a credit intelligence group whose members gain inside information about firms in trouble allowing them to avoid bad debts and rogue traders. To join costs less than a tank of fuel - while at the moment there's a special free temporary membership offer during the Covid-19 crisis which gives access to free legal letters. ICSM also has an effective debt collecting service which has a global reach - ask for details from Paul.

For details about ICSM Credit call 0844 854 1850 or visit the website www.icsmcredit.com or email Ian at Ian.carrotte@icsmcredit.com on how to subscribe and to join the UK’s credit intelligence network to avoid bad debts and late payers. Follow ICSM Credit on FaceBook, Twitter and YouTube and Ian Carrotte on LinkedIn.

To keep up to date subscribe to the FREE ICSM Credit Newsletter to hear all the latest insolvency news and to see who has gone out of business click on the orange panel on the top left of the home page of the website www.icsmcredit.com or send an email to Ian.carrotte@icsmcredit.com

For details for the work of the journalist Harry Mottram visit www.harrymottram.co.uk


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