The directors of a collapsed construction cladding firm have been asked to repay more than £600,000 following an investigation into transactions made before its collapse.
M Price Group Ltd’s two directors have been sent a solicitors’ letter after insolvency specialist Seneca IP said they failed to explain “various transactions” made by the company before it went under.
The 143-year-old business went into administration in August 2024 after struggling to pay back an emergency Covid loan. It was then hit by a £7.8m adjudication in a dispute with Barratt Homes.
In a report published at Companies House to end the administration and put M Price Group into liquidation, administrator John Hedger said attempts to recover company records…