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Distributor leaves behind debts of £138,000

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Collapsed distributor C E M Catering Equipment went into liquidation owing almost £60,000 to trade and expense creditors.

The sum owed to suppliers of catering equipment products and services was just under half of the Kendal-based company’s total debts of £138,657.97.

C E M’s troubles came to light last month when a meeting of creditors was called and business recovery experts Leonard Curtis was appointed to manage liquidation proceedings.

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A statement of company’s affairs, dated December 19, shows C E M had 66 separate creditors at the time administrators were called in.

The largest trade creditor was Morecambe-based fabricator Lines & Jones, owed £12,602.62, while Dawson MMP was owed £10,756.84.

Equipment suppliers Precision, Blue Seal and RB Distributors, meanwhile, were each owed amounts ranging between £3,000 and £5,000, according to the document.

The largest overall creditor was National Westminster Bank, with a debt of £39,000.00.

A summary of assets contained in the statement of company’s affairs recorded a book value of £65,088. Estimated total assets available for preferential creditors were listed as £34,465.

A ‘resolutions for winding-up notice’ dated December 27 stated that C E M would be wound up voluntarily, with Leonard Curtis appointed as liquidator ‘for the purposes of such winding up’.

Companies House currently records C E M’s status as ‘in liquidation’.

The administrator declined to comment on the situation.

Tags : administrationcatering equipmentDistributorsliquidationProjects
Andrew Seymour

The author Andrew Seymour

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