Seagrass St Ives enters administration

Wed, 11 Nov 2015 | ADMINISTRATION

A top St Ives seafood restaurant featured in The Good Food Guide 2015 has entered administration due to a high level of rent and disappointing summer trading.

A report from Insider Media revealed that seasonally operated Seagrass St Ives had been due to shut shop for the winter at the beginning of November, but had been forced to close due to "severe financial difficulties".

Lisa Alford and Chris Parkman of Purnells were appointed as administrators of Seagrass St Ives Ltd on 27 October 2015, three days after the director took the decision to close the restaurant.

Chris Parkman commented: "The restaurant was due to close for the winter on the 1 November 2015 in any event. However, the director took the decision to close the restaurant on Saturday the 24 October 2015 and the staff were made redundant. The director then decided to place the company into administration on the 27 October 2015."

However, Parkman added that negotiations were currently ongoing with the landlord of the premises to reopen the restaurant and re-employ the company's former members of staff.

According to the restaurant's website, it offered Cornish fish and seafood, meat, seasonal vegetables and vegetarian options, and was featured in both The Good Food Guide 2015 and the Michelin Guide 2015.

View more businesses in administration.


Share this article



Latest Businesses for Sale

Luxury Kennels & Cattery
Yorkshire and the Humber, UK

Luxury kennels and cattery with professional grooming parlour (licensed for 142 dogs and 26 cats) in Peterborough for Sale. An opportunity to acquire this luxury kennels and cattery with stunning spacious four bedroom detached residence which must be...

Asking Price: £1,500,000
Turnover: £522,542

LEASEHOLD


Haulage Business
South Wales, Wales, UK

The business has been established for a number of years and has been owned and operated by the founder since that date. Offers invited.

Asking Price: £850,000
Turnover: £2,595,443

FREEHOLD


Bar & Function Room
Ilkley, Yorkshire and the Humber, UK

Situated in the heart of Ilkley town centre just off the busy Brook Street. The yard is a stylish bar offering a wide range of drinks, good, quality food, music with varied DJ’s and live artists all encompassed in an interesting layout. Offers invite...

Asking Price: £775,000
Turnover: £600,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Mar
 

Scunthorpe nightclub up for sale | BUSINESS SALE

A former nightclub based in Scunthorpe has been put up for s...

 
21
 
Mar
 

Kent Logistics provider completes a successful acquisition | BUSINESS SALE

A Kent-based personalised logistics provider, backed by Livi...

 
20
 
Mar
 

Warrington construction company enters administration | ADMINISTRATION

A prominent construction business headquartered in Orford Gr...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources