The team at LSSG work with a wide variety of customers across many different areas of the hospitality industry. Below is just a snapshot of some of our successfully delivered case work.
Quick sale achieved at double original valuation
A varied group of a dozen public houses in London were placed in administration. Our case managers operated the businesses and prepared them for sale.
Challenging logistical and administrative problems were solved, and the chain was successfully sold within three months of the start of the administration.
The sales achieved over double the original valuation.
Maintain trading & establish effective controls
Our brief was to take over and rationalise a bar and restaurant group with prestige venues in the O2 Arena, and across the City of London that had been placed into administration.
The turbulent nature of the project, together with the fact that no previous management information was available to us, made this a particularly challenging assignment.
We were able to successfully trade the group through the important Christmas holiday period, whilst establishing effective management controls.
Hotel in administration now a success
An iconic Grade 1 listed 85 room boutique hotel was placed into administration. We identified significant operational issues and began the work of stabilising the business. RevPAR was increased by over 30 percentage points, purchasing was reduced which had a significant impact in reducing the losses the business had been experiencing.
A major refurbishment programme was required for this hotel to survives, so a decision was taken to wind down trading and sell it as a closed site. A buyer was quickly found and the now refurbished hotel is a thriving business.
Managing a challenging administration case
A high-end nightclub was placed into administration to avoid a winding-up petition by HMRC. On instruction of the joint administrators, our case managers took control of the operation within the business.
It was clear that there had been an epidemic of criminal activity including drug dealing, theft and money laundering. Under a significantly hostile environment, we quickly identified those responsible and eradicated them and the activities from the site, enabling the administrators to sell a clean and highly profitable business, and return a sizeable dividend to the creditors.
Golf Club sees return to former member numbers prior to successful sale
This golf club consisted of an 18 and 9 hole course with function facilities. When the business entered into administration, it soon became apparent that the members were moving to alternative clubs in the area due to the previous poor management and lack of investment.
Working closely with the administrators we identified some quick fixes and went about implementing them. With a fresh approach we soon saw a return of old members and a gradual incline in new membership. The business was sold and is now thriving.
Licensing transfer & due diligence in record time
We were appointed by the joint administrators to transfer and hold the Premise Licenses for a well-known chain of department stores.
This was particularly challenging as there were tight time constraints and a large number of outlets too.
We arranged the transfer of all 160 licenses within 48 hours so licensable activity could resume, and we also visited all stores to carry out due-diligence checks, completing this in just 10 days.
Successful sale of 52 site pub group
This pub group had 52 sites located across the north of England. As they were mainly low end managed and tenanted sites, we faced issues with building compliance, health and safety, licensing and significant rent arrears due from tenants.
Working closely with the administrators, we drew up an action plan and began to fix this broken business. Tenants were swiftly brought back into line whilst dealing with their issues and concerns.
A successful sale of the business was concluded within six weeks.