An official meeting of creditors took place earlier today that led to Essex-based Academy Catering Equipment being placed into liquidation.
Companies owed money by the distributor were invited to the offices of insolvency practitioners Free From Debt Ltd, which was appointed to handle the case.
A spokesperson from the liquidator told Catering Insight: “Academy Catering Equipment Limited entered liquidation this morning and Mike Reeves of Free From Debt Ltd from Romford was appointed as liquidator. The company has been trading since 2006 and the liquidation is another result of the downturn in work in the current economic climate.”
Academy Catering Equipment formerly went by the name of Total Catering Limited until 2010 and is based in Brentwood.
Aside from formally nominating the liquidator, the purpose of the meeting was to present the distributor’s Statement of Affairs, as well as a full list of creditors and the estimated amount of their claims.
Free From Debt declined to disclose the size of the distributor’s debts, but said creditors could expect to hear from it in due course.
“Creditors will be receiving a report of the meeting which has taken place today, together with an indication of the likelihood of funds becoming available,” it said.