“Poor trading conditions meant the company could not meet its debts as they fell due,” the liquidators said in their report.
“A creditor had also issued a statutory demand and applied to place the company into liquidation prior to our appointment, and these proceedings were active at the time of our appointment.”
The liquidators said the business had been sold prior to the liquidation, and that sale was being reviewed.
No creditor claims had been registered before their initial report was released, but the liquidators said the amounts owing were based on their initial review of the company’s documentation and discussions with the director.
The report said there were 10 known secured creditors or interests listed on the Personal…