Hyndburn councillor's bathroom business owed dozens of customers £1,000s when it went bust
A bathroom business owned by a senior East Lancashire councillor owed dozens of customers and creditors close to half a million pounds when it went bust in April last year.
“It struggled during Covid and could not continue to trade. The director decided to liquidate. On investigation it became apparent that there were multiple transactions that needed further investigation. “The statement of affairs included 78 non-preferential unsecured creditors with an estimated total liability of £257,327.38. I have received claims from eight creditors at a total of £221,830.24.
“Specifically I recovered, listed and reviewed the company’s accounting records; obtained and reviewed copy bank statements for the 12 months prior to the company ceasing to trade from the company’s bankers and compared the information in the company’s last set of accounts with that contained in the statement of affairs lodged in the liquidation and made enquiries about the reasons for the changes.
“Within three months of my appointment as liquidator I am required to submit a confidential report to the Secretary of State to include matters which have come to my attention during the course of my work which may indicate that the conduct of any part of present director would make them unfit to be concerned with the management of the company.
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