A well-known Liverpool venue owed more than £9m when it collapsed into administration, new documents have revealed.
Alma De Cuba is a restaurant, bar as well as private hire and events venue based in the grade II-listed former St Peters Church in Seel Street.
It first opened in 2005 and became a celebrity favourite with Liverpool FC holding their players’ party at the venue following the team’s 2006 FA Cup win.
READ MORE: Click here to sign up to the BusinessLive North West newsletter
It was acquired by Signature Living for £3.1m in 2017 to become one of its 60 entities that trade as hospitality, hotel and residential property operators and developers.
However, according to newly-published documents from administrators Kroll, the company faced a winding-up petition from HM Revenue and Customs (HMRC) due to "unpaid historical and current tax liabilities". That prompted its secured creditor to demand its outstanding debt of more than £2.7m to be repaid.
The business did not challenge the winding-up petition and the secured creditor appointed Kroll as administrator of Alma De Cuba in May 2022.
Up until then, the venue was operated by UK Accommodation Ops Limited (UKAOL) under a management agreement with the company.
Avensis Hospitality is engaged by UKAOL to look after the day-to-day operations which will continue until further notice, administrator Kroll said.
According to newly-published documents from Kroll, Alma De Cuba owed more than £2.7m to its secured creditor and over £6.6m to unsecured creditors.
Kroll's document reveals that there is expected to be enough funds to pay back the secured creditor but not anyone else.
Six parties have registered their interest to buy the business and its assets but a date for preliminary offers has not yet been set.
All 48 employees have been retained to assist UKAOL trade the business while it is in administration and are expected to transfer to the new owner if a sale is completed.
READ MORE:
JD Sports 'in exclusive talks' to sell Footasylum to private equity group
Pharmaceuticals group agrees £175m deal to buy US counterpart
The top team running the EG Group empire that was founded by the billionaire Issa brothers
Formal bid launched for prominent office buildings next to Co-op headquarters
Regeneration company Urban Splash secures £43.5m boost from investment giant Aviva
