Press Room
Kenmore Property Group Limited in administration
The directors of the Kenmore Property Group of Companies have
appointed Rob Caven and Martin Ellis of Grant Thornton UK LLP Joint
Administrators of 21 companies within the Group. Rob Caven and
Martin Ellis have also been appointed Joint Receivers of two other
companies within the Group.
In addition, they have been appointed Joint Administrators to a
connected company, Kenmore Private Equity Limited.
The Kenmore Property Group is a co-investing, trading and
development property group active in the UK, Europe and the Middle
East. The Group manages in excess of £1 billion of investments
together with a substantial development pipeline.
As regards Group appointments, Caven and Ellis have been appointed
to Kenmore Property Group Limited, Kenmore Investments Limited,
various Kenmore Capital fund companies, and two single
property vehicles, Kenmore Snowhill Limited and MK Manchester
Limited. The remaining property investment funds in which the Group
has invested or provides management services to are not the subject
of insolvency proceedings.
The Kenmore Property Group of Companies is headquartered in
Edinburgh. Together with Kenmore Investments Limited it
employs 50 staff across the UK with offices also situated in
London, Manchester, Leeds, Birmingham and Bristol.
"Funding has been secured from Lloyds Banking Group to enable us to
continue to trade the business while we explore with the Group's
stakeholders potential restructuring opportunities. While
there will undoubtedly be some uncertainty at this time our plans
for the continued trading of the Group should avoid any immediate
disruption to the funds that are owned and/or managed by the
Group. Our immediate objective is business as usual",
commented Rob Caven, Partner at Grant Thornton's Recovery and
Reorganisation practice.