Hotel enters liquidation over electrical bill

Tue, 23 Feb 2016 | BUSINESS NEWS

The directors of the Blue Ivy boutique hotel and restaurant in Colchester, Essex have been forced to appoint a liquidator by a legal petition issued by an electrical company, as reported by the Daily Gazette.

The legal petition was submitted by Edmundson Electrical following a dispute over an unpaid bill. Following the petition the distressed hotel and restaurant on North Hill in Colchester has called in Greenfield Recovery in order to wind up the company.

The Blue Ivy has been open for business since October 2015 following a protracted refurbishment of the premises. Hotel director Carl Blanchette has stated that the distressed business will remain open and that there was no risk of closure, despite the fact that the company is now being voluntarily liquidated.

Mr Blanchette said: “The dispute is with an electrical company which was from when the building work started. We are working through it with the help of our recovery company and there is no threat to the hotel.”

The hotel directors can prevent the liquidation process from taking place by paying off the petition, having a court dismiss it or by entering into an agreement to find an alternative form of insolvency process.

Commenting on a former kitchen porter’s overdue pay, backdating to October, Mr Blanchette said: “When there is a winding up order the company’s bank accounts are frozen which is what is happening while we get through this.”

View the latest UK businesses in administration.


Share this article



Latest Businesses for Sale

Pharmacy
Cambridgeshire, UK Wide

Long established community pharmacy. First time on the market in 30 years. Now occupying exemplary new purpose built accommodation. Standard hours. Offers invited.

Asking Price: Offers Invited
Turnover: £885,000

LEASEHOLD


Creative Consultancy & Interior Design Solutions
UK Wide

Works closely with clients to produce interior design solutions for educational institutions, which could be marketed to more sectors.Additionally offers an array of creative media, including videos,presentations, websites, branding and full direct m...

Asking Price: Offers Invited
Turnover: £873,000

RELOCATABLE


Health Centre Pharmacy
Devon, UK Wide

Unopposed health centre pharmacy. Semi-rural location. In receipt of Pharmacy Access Scheme payments. Offers invited.

Asking Price: Offers Invited
Turnover: £845,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
24
 
Jan
 

Hawkin’s Bazaar enters administration | ADMINISTRATION

Norwich-based novelty toy retailer Hawkin’s Bazaar has...

 
23
 
Jan
 

MBO at Bristol-based media training firm | MBO/MBI

Mentor Media Training has been acquired by lead consultant D...

 
22
 
Jan
 

Chelmsford warehouse management firm bought by software provider | BUSINESS SALE

Chelmsford-based warehouse management solutions provider Min...

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