Mon, 26 Oct 2015 | ADMINISTRATION
The Hatton Garden safety deposit box store that hit the headlines when it was subject to a raid this April is now up for sale.
Numbers 88 to 90 Hatton Garden are owned by a Sudanese father and son team, Mahendra and Manish Bavishi. The pair shut down the business, Hatton Garden Safe Deposit, after trade slowed down significantly following the high profile theft.
Two months ago they appointed Harold Sorsky and Stella Davis of Streets SPW as joint liquidators of the business.
Now the decision has been made by SPW to appoint Hoffman Partners to help sell the leasehold on the buildings, which is to include more than 1,000 safe deposit boxes in the building's vault.
Speaking to The Independent, Ms Davis commented on the motivation for the sale: “It is the duty of a liquidator to achieve maximised realisations from the sale of any assets of the company for the benefit of creditors in liquidation.
“The assets of the company consist of a long leasehold at a low rent. It is the intention of the liquidators to assign the lease to an interested party for value.”
Hatton Garden is a historic jewellery and diamond quarter of London. The raid in April 2015 saw thieves use a lift shaft to break into the building from where they drilled into the vault. The vault has since been secured but the £10 million theft of cash, jewellery and other valuables caused serious damage to the security of the location.
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