Case Studies/Hospitality/FGH INNS LIMITED
Creditors' voluntary liquidation

FGH INNS LIMITED

FGH Inns Limited, a hospitality operator based in Southampton, entered creditors voluntary liquidation on 24 February 2026. This process followed a period marked by board changes and new secured borrowing. The company, which was incorporated on 8 November 2007, appointed joint liquidators from Begbies Traynor to oversee the winding up.

Key facts
Company no.06421506
SectorHospitality
Incorporated8 Nov 2007
Reg. officeSouthampton SO14
Appointed24 Feb 2026
Office holderSimon Lowes, Begbies Traynor
The timeline · incorporation → liquidation
8 Nov 2007
Incorporated
Registered as 06421506. Hospitality.
8 Nov 2007
Board changes begin
First of the director resignations before failure.
13 Dec 2007
First accounts filed
legacy
25 Jan 2008
Charge registered
Rent deposit deed granted to Goodhew Investments Limited.
9 Sep 2009
Charge registered
Debenture granted to The Royal Bank of Scotland PLC.
14 May 2010
Charge registered
Legal charge granted to The Royal Bank of Scotland PLC.
26 Jul 2016
Charge registered
A registered charge granted to The Royal Bank of Scotland PLC.
7 Nov 2024
Latest accounts filed
accounts-with-accounts-type-total-exemption-full
15 Aug 2025
Charge registered
A registered charge granted to Nucleus Cash Flow FINANCE2 Limited.
24 Feb 2026
Liquidator appointed
Creditors' voluntary liquidation.
24 Feb 2026
Gazette notice published
Notice 5062182 in The Gazette.
26 Feb 2026
Statement of affairs
Sworn statement of assets and liabilities.

What the data was telling us

Readings from The Gazette and Companies House, in the firm's final two years.

Insolvency statusCVL
StatusCreditors' voluntary liquidation
Gazette refNotice 5062182
EditionThe Gazette
Appointed byMembers & creditors
UnderInsolvency Act 1986, s.100 & s.109
Financial positionAs at 2026-02-12
Deficiency to creditors£575,349
Estimated assets£21,910
Total liabilities£597,159
Secured creditors£146,667
Unsecured creditors£276,034
Filing trajectoryLate filing
Incorporated8 Nov 2007
Last accounts7 Nov 2024
Confirmation stmtFiled
Account typeFull
Director stabilityBoard churn
Appointments4 since 2007
Resignations1 in final 12 mths
Active directors1
Avg tenure4.8 yrs
Charges & secured creditorsFloating charge
Charges5 registered
InstrumentA registered charge
HolderNucleus Cash Flow FINANCE2 Limited
Registered15 Aug 2025
Statusoutstanding
Practitioner appointedPractitioner
PractitionerSimon Lowes
FirmBegbies Traynor
RoleLiquidator
IP numberIP 9194
Appointed19 Feb 2026
View profile →
Practitioner appointedPractitioner
PractitionerStephen Mark Powell
FirmBegbies Traynor
RoleLiquidator
IP numberIP 9561
Appointed19 Feb 2026
View profile →

Lessons behind the liquidation

01
Late secured borrowing risks

The registration of an outstanding charge to Nucleus Cash Flow FINANCE2 Limited on 15 August 2025 shows a late effort to secure cash flow. When a company with five registered charges seeks new secured debt, it often indicates severe cash constraints. This additional debt layer can limit restructuring options if trading does not improve.

02
Board disruption before insolvency

With four director appointments since 2007 and an average tenure of 4.8 years, the firm had historically stable governance. However, the resignation of one director in the final 12 months left just one active director to navigate the crisis. Board departures during financial distress often concentrate pressure on the remaining leadership.

03
The limitation of historical accounts

FGH Inns Limited filed full accounts on 7 November 2024, yet entered liquidation on 24 February 2026. The swift decline from filing full accounts to the appointment of liquidators on 19 February 2026 shows how quickly cash flow crises can escalate. It reinforces that historical filings cannot always predict sudden insolvency events.

Pattern context

This case reflects a frequent insolvency pattern where a long-established leisure business undergoes late-stage refinancing and board contraction before transitioning into a voluntary winding-up process.

Indicative basis · modelled across LIQUI's corpus, indicative, not predictive
The full forensic report

Every charge, every filing, every appointment, in one dossier.

Director histories across related entities, the full debenture instrument, creditor estimates, and the practitioner's record on comparable cases for FGH INNS LIMITED.