Pritesh Patel of Patel and Co was appointed liquidator.
According to the first liquidator’s report, Wang advised the business was in operation for “no more than three months”.
Wang told Patel the business had failed from its initial purchase to achieve the required turnover to satisfy its fixed and variable business expenses as and when they fell due.
This included increased cost of goods, reduced foot traffic, increased competition and high costs when menu items were ordered via delivery platform Uber Eats.
The director advised that the combination of internal and external pressures made it impossible for the business to continue operating, and on professional advice, appointed a liquidator before the liabilities of the company…