KPMG has been appointed administrator to a further four subsidiary companies in the Angel property group of companies.
Rob Croxen and David Crawshaw have been appointed administrators to Inglelodge Limited, Wardbrook Limited, Thornminster Limited and Angel (London) Limited in addition to the seven Angel group appointments that were confirmed in October.
The most recent appointments relate to companies which own Adamton House Hotel in Prestwick and land and buildings associated with the Otterburn Hall Hotel in Northumberland (plus adjoining farmland) both of which ceased trading in 2012.
The companies do not employ any staff.
Rob Croxen, joint administrator and restructuring partner at KPMG, said that the group faced severe cash flow issues in 2012, which resulted in the original appointment.
He added: “Together with our earlier appointment, we are now exploring options to realise the assets of all eleven Angel-related companies. We will provide further updates as the case progresses.”
The Angel group of companies own and operate around 360 residential, tenant-occupied, properties.
Robert Croxen and David Crawshaw were appointed joint administrators over Angel Group Limited, Angel Services (UK) Limited, Angel Wakefield Limited, Angel Heights Development Limited, Angel Heights (Newcastle) Limited, Bromvale Limited and Angel Estates Limited (“the Companies”) following an application by the director to the High Court in London on Friday 12 October 2012.