Bill Wyman’s Sticky Fingers restaurant is the latest casualty of Covid-19’s effect on hospitality (read ICSM’s latest list of pubs, restaurants, hotels and events management firms that have hit the rocks)

Bill Wyman’s Sticky Fingers restaurant is the latest casualty of Covid-19’s effect on hospitality (read ICSM’s latest list of pubs, restaurants, hotels and events management firms that have hit the rocks)

From take-aways to five star hotels, the hospitality industry has been hit like never before with the Government’s Covid-19 regulations leading to thousands of redundancies, company collapses and a legacy of debt.

The latest eaterie to close is owned by Rolling Stones bassist Bill Wyman in London’s Phillimore Gardens. Opened in 1993 Sticky Fingers was named after the Stones’ 1971 album which featured a close up of a jeans-clad male crotch. At the time Bill was dating an under-age Mandy Smith which created considerable controversy but in terms of publicity perhaps fitted into the rock and roll image of the establishment. Wyman has blamed the Covid lockdowns for the closure making the restaurant economically unviable as punters continue to stay at home with social distancing putting off diners.

Bill Wyman and Mandy Smith

Ian Carrotte of ICSM said there was real concern about the ending of the furlough scheme as more than 1.5 million people were still on the scheme. He said: “When it ends all the sectors hit by the lockdowns will see company collapses and even more problems from months of little or no trading. ICSM covers liquidations and the appointment of administrators as well as flagging up businesses that are not paying their bills and squeezing suppliers for credit.”

ICSM is a members organisation that keeps firms informed of companies that are in trouble with informed and immediate credit intelligence saving them millions every year.

These were some of the firms in the hospitality and travel sectors hit during May of this year:

Administrators Appointed
Henbury Social Club & Institute Limited    IP17913R
Administrators Meetings Para 51
Baxter Hoare Travel Limited    00967736
Creditors’ Voluntary Liquidation Deemed in Consent Meetings
A Nineteen Pub Company Limited    11448516
Aqua Brasserie Blackheath Limited    08523348
Artemis Leisure Limited    06237606
Bluedaze Limited    07018189
Dancing Fish Events Limited    07813170
Goa Hip Hop Festival Limited    11969204
Gold Star Global Events Limited    11068693
Jolly Fine Malt House Limited    07957702
Kings Catering North East Limited    09543346
Maestra Events Limited    09826384
Mercury Events Limited    08003000
Mercury Events Retail Limited    12941703
M Junction Limited    10925819
SA Food Stores Limited    10976928
Scott and Babs Woodfired Food Limited    09568398
SC Holiday Solutions Limited    08732843
Swan Pier Company Limited    05901281
Terry’s Restaurant Limited    12219785
The Bird In Hand Bromley Limited    08731576
The Crescent Hotels Limited    08557483
The Field Kitchen (UK) Limited    07457911
The Plough Inn Holford Limited    11573738
The Unit Fitness UK Limited    09730476
The Victoria Inn Ashburton Limited    10755497
Vivid Hospitality Solutions Limited    08658860
Zugers Bromborough Limited    11638610
Liquidators Appointed
AK & B Catering Limited    10724470
Ashmount Hospitality Limited    10686865
Beanbag Coffee Limited    09127302
Busy Bee Events Limited    07162716
Brunch Box Limited    12077623
Café Avenue Limited    11677589
Cali Juices Limited    11798166
Cambridge Pub Group Limited    10148077
Catering Business Solutions Limited    11691543
Chamberlains Restaurant Limited    04026407
Escape Inside And Out Limited    09253513
Farmhouse Pizzas Org (UK) Limited    10338176
Franklin Bar Limited    06936382
Goa Hip Hop Festival Limited    11969204
Half Moon Bay (Leisure) Limited    05222630
HN Events Limited    12340048
INV Project Limited    10203012
Isha Weddings Event Limited    10620329
Joes Burgers Limited    10804704
J Honny’s Restaurants Limited    11835720
Kirkpatrick Restaurants Limited    05354148
Keystone Entertainment Limited    11012334
Leicester Square (London) Hotel Limited    10615716
Lucky Crab Limited    10627298
Mad Hatters Tea Room and Bakery Limited    08407246
Music & Events Limited    12154362
Megna Restaurant Limited    04779005
MJB Events Limited    09977529
Nash Inns Limited    04913376
Promac Leisure Limited    05089308
SC Holiday Solutions Limited    08732843
Sival Hotels Limited    02009036
Southampton Nuffield Theatre Trust (The)    01711502
Sparkford Events Management Limited    10904063
Simple Leisure Limited    07086194
Spicy Chef Limited    11596213
Starlink Euro-UK Limited    10294235
The Victoria Inn Ashburton Limited    10755497
True Italian Restaurants Limited    10926867
Toms Event Bars Limited    10440036
Top Event Limited    04380494
Top Choice Holidays Limited    04455228
Victory House (London) Hotel Limited    09162585
Wardour Restaurants Limited    11871804
Winebuyers Limited    09816569
Woodend Bar Limited    09515790
Members Voluntary Liquidations
International Airline Passengers association (EAME) Limited    02577549
Knowle Grange Leisure Limited    04594639
Mole and Chicken Inn LLP    OC422418
RSA Hotels Limited    08100238
SOF-10 Starlight 13 Operations Limited    09300955
The Executive Club International Limited    01455887

Types of Insolvency
Administration applies to limited companies and partnerships and is intended to get the company out of trouble and trading again if possible. Administrators can be appointed to a company that is unable, or is likely to become unable, to pay its debts. They can be appointed by the courts (on application from a creditor, directors or partners), the holder of a qualifying floating charge over the assets of the business, or the company or its directors. An administrator's primary goal is to rescue the company as a going concern. If this isn't possible, the administrator will try to get a better result for the creditors than would be possible if the company was wound up. If neither of these is possible, the administrator will sell the company's property to make at least a partial payment to one or more secured or preferential creditors, such as employees or the bank.
Administrators Meetings Para 51
This statement by the administrator of his proposals must be accompanied by an invitation to an initial creditors' meeting (Sch B1, para 51(1)).
This can only apply to individuals (including sole traders and individual members of a partnership). Bankruptcy petitions may be presented to the court by the individual, by creditors who are owed £750 or more, or by the supervisor of an individual voluntary arrangement. A bankruptcy order is made by the court.
Company Voluntary Arrangement (CVA)
A company comes to an arrangement with its creditors to pay the debts in full or in part over time. A CVA begins with the company (or its adviser) drafting a formal proposal at a Creditors' Meeting to pay part or all of the debts. If the proposal is accepted by the creditors, the arrangement will become legally binding and the directors will retain control of the company.
Compulsory Liquidation
This is the winding up of a company or a partnership by a court order (a winding up order). A petition is normally presented to the court by a creditor stating that he or she is owed a sum of money by the company and that the company cannot pay.
The Official Receiver becomes liquidator when the order is made but an Insolvency Practitioner will be appointed to take over if the company has significant assets. The liquidator's role is to realise the company's assets, pay all the fees and charges arising from the liquidation, and pay the creditors as far as funds allow in a strict order of priority.
Compulsory Liquidators Appointed S 136
When a winding-up order has been made, the Official Receiver is initially appointed as liquidator (section 136, IA 1986). The company's creditors and contributories may appoint another individual, who must be a registered insolvency practitioner, to act as liquidator (section 139, IA 1986). More than one liquidator can be appointed to act jointly.
Creditors' Voluntary Liquidation
Here the shareholders pass a resolution to wind the company up without the need for a court order. A Creditors' Meeting is held to nominate the appointment of a liquidator and consider a statement of affairs. Creditors can appoint a committee to work with the liquidator, whose role is to realise the company's assets, pay all the fees and charges arising from the liquidation, and pay the creditors as far as funds allow in a strict order of priority.
Creditors' Voluntary Liquidation Deemed in Consent Meeting
Creditors are now 'deemed to have consented' to a decision or resolution if 10% of creditors (by value) have not objected to it. In other words, if objections are not received by the specified decision date, creditors are 'deemed to have consented' to the decision or resolution.
Individual Voluntary Arrangement (IVA)
An individual comes to an arrangement with creditors to pay his/her debts in full or in part over time as an alternative to bankruptcy. The arrangement is set up by a licensed Insolvency Practitioner who will put it to a meeting of creditors. If the proposal is accepted at the meeting, the agreement reached with the creditors will be legally binding. An Interim Order is sometimes issued by a court and will immediately protect the debtor from any legal action by creditors.
Petitions to Wind Up
A winding up petition is a legal notice put forward to the court by a creditor. The application, in effect, asks the court to liquidate the company as they believe the company is insolvent. Proceeds of the liquidation can be used to pay back creditors.


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ICSM, The Exchange, Express Park, Bristol Road, Bridgwater, Somerset TA6 4RR. Tel: 0844 854 1850.

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