Following the administration of Skymede Enterprises (Cardiff) Ltd which operated the Sky Plaza Hotel Cardiff Airport, its business and assets have been sold to Fenea Limited, securing the future of the business and eight jobs.
The deal was negotiated by administrator Kate Breese of Walsh Taylor of Leeds who was advised our corporate recovery team.
The three star Sky Plaza Hotel is located 400m from Cardiff International Airport and specialises in pre-flight stopovers and city breaks.
Kate Breese of Walsh Taylor was appointed as administrator to Skymede Enterprises (Cardiff) Ltd on 29 November 2013 and the business was immediately acquired by Fenea Limited.
Ms Breese commented: “Unfortunately, the business had suffered from poor trading and became insolvent. However, by concluding this sale so quickly, we have been able to preserve the goodwill of the business and the future of the staff as well as bringing about an improved return for creditors.”
Clarion commented: “There was a real risk that without prompt action by the administrator, the business would lose value as a going concern, making any onward sale difficult. We were pleased to be able to deal with the matter so swiftly, with the company being placed into administration and the sale completing immediately thereafter to provide a seamless transition of the business.”
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