A fine dining restaurant company collapsed owing hundreds of thousands of pounds. ALM Bars Ltd, which traded under the name Courts, is being liquidated less than two years after the bar and grill launched in a Grade II-listed building on the outskirts of Cardiff . ALM Bars ceased trading on May 12 and went into creditors' voluntary liquidation on June 20 after falling into debt of £629,375, including some £282,727 owed to the taxman.
A new tenant has taken on the premises — a 15th-century site off the Cogan Spur junction in Penarth — and is operating a restaurant under the Courts name, but the company is separate and not liable for ALM's debts. The liquidator of ALM is a firm called Doyle Davies, which told us there have been no job losses. Doyle Davies director Dean Collins said: "We understand that a new tenant may be in occupation of the restaurant and has agreed to take on employees of ALM Bars Limited.
The winding up of the company is at a very early stage so dividend prospects are currently uncertain for creditors." READ NEXT: Woman who quit £123,000 job and failed to get it back wins tribunal READ NEXT: The 'horrible nightmare' behind the scenes at one of Wales' highest profile restaurants ALM's high-end Courts restaurant was based at Baron's Court in Penarth Road, a late-medieval hall house which during the 2010s was home to a Toby Carvery. According to Companies House documents, ALM collapsed last month owing £282,727 to HMRC, £43,520 to British Gas, £3,128.