Dozens of creditors owed more than £750,000 following the collapse of superchef Anthony Flinn’s Leeds restaurant empire are unlikely to get a penny of their money back.
Administrator Lines Henry today said it was “not anticipated” that any unsecured creditors of Mr Flinn’s firm, Anthony’s Restaurant Limited, would receive a dividend.
Around 80 of the company’s creditors are owed £763,000 between them. A list of creditors seen by the Yorkshire Evening Post includes HM Revenue & Customs, British Gas and Southern Electric as well as a number of food firms and other suppliers.
According to company records, Leeds City Council is owed just over £850 while tourism agency Welcome to Yorkshire is owed £450.
Lines Henry has raised around £55,000 through the sale of catering equipment and furniture at Mr Flinn’s now-closed restaurants in the Corn Exchange.
The insolvency experts are aiming to bring in a further £10,000 with the sale of equipment and furniture at the chef’s former patisserie in the Victoria Quarter. That cash will be used to pay off preferential and secured creditors, who include NatWest Bank, with no money expected to be left over for unsecured creditors.
Mr Flinn’s restaurants closed in June at the end of a near-decade in which he had helped strengthen Leeds’s reputation as a city of gastronomic excellence. As reported by the YEP last week, Lines Henry pinpoint the firm’s decision to open a £1m eaterie in the 14,000 sq ft ground floor of the Corn Exchange in 2008 as a major factor in its demise.
The administrators say “the restaurant never quite achieved the sales necessary to cover the large investment and overhead costs associated with such a large space”.
Mr Flinn’s fine dining restarauant, Anthony’s, moved from Boar Lane to join the operation in the Corn Exchange in March this year in what proved to be a failed bid to turn matters round.