THEBUSINESSDESK.COM - ‘Positive outcome’ for creditors of collapsed fireplace company
2016. She has realised all company assets including the sale company’s Nottingham showroom at Arkwright Street Nottingham (the former Queens Hotel) for £353,500, and “substantial” amounts of stock sold through auctioneers John Pye & Sons.
This has enabled the secured creditors to be paid in full receiving a dividend distribution of more than £260,000.
Matkin has also confirmed that all preferential creditors will be paid in full.
She said: “We are pleased to have realised company assets totalling more than £400,000 to enable a positive outcome for secured that have received a dividend of 100p in Pound and preferential creditors that will also receive the same.
“The dividend prospects for unsecured creditors will be reviewed following the distribution to preferential creditors.”
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Licensed Insolvency Practitioner.