A meeting of creditors owed money by Stangard Food Service Equipment Limited has been scheduled for the beginning of next month after administrators were called into the business last week.
The Rochester-based catering equipment distributor yesterday gave official notice that the creditors’ meeting would take place at 10.45am on Friday 8th February in Maidstone.
The meeting is pursuant to Section 98 of the Insolvency Act 1986 and will be used for the directors to lay the company’s statement of affairs before creditors and appoint a liquidator.
Vincent Green and Mark Newman of Tunbridge Wells-based CCW Recovery Solutions have been appointed as insolvency practitioners.
They are obliged to furnish creditors free of charge with information concerning Stangard FSE’s affairs as may reasonably be required up until the day before the meeting.
Forms of proxy and proof of debt to be used at the meeting must be lodged at CCW’s offices no later than noon on the day before the creditors’ meeting, the notice said.
Richard Pucknell, managing director of Stangard FSE, declined to comment on the advice of the administrators.
On its website, Stangard says it has been trading for more than 40 years. Prior to being owned independently, the business belonged to names such as Trust House Forte and Granada.
Its customer base has included prestigious names such as Tesco, Holiday Inns, Little Chef, Carpetright, O2 establishments, ETC Venues, Asda, Leicester City FC, National Trust, DEFRA and Virgin Atlantic. It has also delivered numerous education projects for Kent and Medway councils.
News of Stangard’s plight is a stark reminder that the financial difficulties encountered by some dealers towards the end of last year look set to continue into 2013.
The Kent distributor is not the only one to have been involved in liquidation proceedings this year.
Two weeks ago business recovery firm Leonard Curtis was appointed as the liquidator responsible for the winding-up of Lancashire kitchen house C E M Catering Equipment.
Kendal-based C E M had been supplying catering equipment and building commercial kitchens since 1981, but its troubles came to a head just before Christmas when liquidators were brought in.