Postby robbieskipton » July 21st, 2017, 3:18 pm
administration works like this.
in the interest of the business they will try to sell the whole to a new buyer,
if unsuccessful they will break the business into smaller viable chunks.
but ultimately if no buyer is found. its only worth is its assets. so they will sell off to get most for creditors
if there is any monies left in the pot after the administrators have taken their slice. any one with a financial interest will be paid out normally so many pennies in the pound, hence its unlikely to get back what you are owed, i would say after the banks and other institutions have had their slice there will be no monies left. you can apply to the administrators for any monies you believe you are owed and they will make note but don't bank on anything. historically small amounts are never entertained and unlikely you will ever see anything.
You could say they knew they were going to the wall and should not have taken monies at Cosford knowing they wouldn't be able to deliver.
" If it aint an Inch off the deck, you aint flying 3D"
www.bmdsigns-wraps.co.uk
" For all your signage requirements"
www.Skipmodeldesigns.co.uk
" Laser cutting, Cnc Routing Service"
Stockists of JR Servos, Pilot RC Aircraft, and Skip Model Designs aircraft + Much More"
