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.
A very reputable, award winning, day spa offering a selection of rejuvenating treatments is available in the bustling city of Manchester. Offers invited.
This is a longstanding automotive repair business in Gloucestershire, now available for an interested buyer to purchase. Offers invited.
A remarkable opportunity has emerged to acquire an established precision engineering business which has cemented solid foundations since it began trading in 1998. Offers invited.
Early stage advanced data analysis company Rinocloud has bee...
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