Tue, 25 Feb 2020 | ADMINISTRATION
The parent company of UK property management startup Hostmaker has filed notice of intention to appoint administrators.
Flying Jamon Limited filed the notice with the High Court, giving it until next month to keep Hostmaker afloat.
Hostmaker was founded by former hotel industry strategist Nakul Sharma in 2014. It raised £23 million from investors in two funding rounds, allowing it to expand from London to France, Spain, Italy, Portugal and Thailand.
The company provides homeowners with services including cleaning, concierge and photography for online property listings on sites such as Airbnb.
It offers property owners and landlords the opportunity to let out properties via its digital platform, with Hostmaker outsourcing and managing each booking.
Investors are reported to include Thai property developer Sansiri and Hong Kong real estate investor Gaw Capital.
Hostmaker is reported to have generated sales of £17 million across 2017 and 2018, leading to losses in excess of £20 million over the last three years.
Its most recent accounts from 2018 show that Hostmaker spent £9.9 million and had turnover of £12 million. However, administrative expenses amounting to £16 million led to it making a £14.3 million loss.
The notice of intent filed by Flying Jamon Limited gives Hostmaker ten days to resolve its issues with creditors. Hostmaker says it is in talks with several investors.
Event Management Company Based in Northamptonshire. An excellent commercial location. Extensive inventory of hire stock and fixtures & fittings included. Offers invited.
FREEHOLD
Historic country pub and hotel in a prime location. This is an amazing and unique opportunity to acquire a historic country pub and hotel in the beautiful Northumbrian holiday area. The business has a long established reputation for hospitality, serv...
LEASEHOLD
UK and European coach holidays and regional day trips through its own tour programme. UK and European private hire services, including regional customers, and subcontract work for national hire businesses. Operated services for local authorities and...
|
24
|
|
May
|
Over 50 hotels and travel brands up for sale as leisure company collapses | ADMINISTRATION
The parent company of coach holiday company National Holiday...
|
22
|
|
May
|
Owner of Joe.co.uk enters administration | ADMINISTRATION
Joe Media Limited, the UK parent company of social news webs...
|
21
|
|
May
|
South London-based law firm acquired in pre-pack sale | BUSINESS SALE
Croydon-based McMillan Williams Solicitors (MSW) has been so...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources