Nationwide insolvency practitioners, SFP has been appointed Administrators to London-based property company, London & Country Property Co Limited (LCP), after it encountered financial difficulties.
LCP was established in October 2000 as a property investor and speculator, investing in property let to high street retailers such as Clarks and Superdrug.
Simon and Daniel Plant – both licensed members of the Insolvency Practitioners’ Association – were appointed joint administrators on 12th September 2013.
“The reduction in market value of properties led to the company experiencing pressure from mortgagees to reduce its debt, which put extra pressure on LCP’s cash flow and has seen the company enter into Administration, says Simon Plant, Director of the SFP Group.
“We will be looking for potential buyers of the company’s assets including two freehold properties.”