Ping Pong Limited – administration

Ping Pong Limited, a London dim sum restaurant chain, entered administration on 18 November. The administration was caused by legacy debts, including debts to landlords, acquired during the pandemic which could not be repaid even though the chain has since returned to profitability. On their appointment, joint administrators Ashley Miller and Stephen Katz of Begbies Traynor immediately sold the business to AJT Dimsum Limited, a new entity established by Ping Pong‘s existing management team. All 225 staff have been transferred to the purchaser. A number of parties have registered charges against the company, most of which relate to rent deposits.