A CARPET cleansing company whose collapse left the Poole Pirates speedway crew in a “vulnerable position” may well have owed extra funds than previously assumed.
A liquidator was appointed in September 2019 to tackle the affairs of No 1 Carpet Cleansing, the Pirates’ key sponsor that season.
A statement of affairs geared up for the liquidator by director Richie Barratt estimated that 23 unsecured collectors ended up owed a whole of £496,356.
They included Poole Speedway, which was owed an estimated £21,000.
Poole Pirates chief Matt Ford admits club is in a ‘vulnerable position’ just after key sponsor goes into liquidation
But a progress report by liquidator Rosalind Hilton, of Adcroft Hilton Minimal, explained the eight claims she had acquired so far totalled £545,137.
HMRC – which was owed £317,575 in Mr Barratt’s estimate – had submitted a assert totalling £431,908.
The report claimed it was not likely there would be a dividend for unsecured or preferential creditors of No 1 Carpet Cleansing Constrained, which was dependent in Saxon Square, Christchurch.
“There had been some matters that justified additional investigation in the instances of this appointment. These bundled transactions that call for further rationalization,” the report reported.
“These enquiries are ongoing. Further more data will be supplied to collectors as and when important.”
The report claimed the company’s intangible assets, plant and equipment, fixtures, fittings and laptop or computer products experienced all been sold to K4 International Investments Minimal, which was not connected to No 1 Carpet Cleaning, for £70,833.
“The director has confirmed that no official valuation was carried out prior to the sale of the assets. I am now liaising with my agents, JPS Chartered Surveyors … in regard of regardless of whether the sale was honest worth,” Ms Hilton wrote.
Mr Barratt is also director of other firms like No 1 Carpet Cleaning Franchises British isles Restricted, which is even now active.
Talking in October 2019, Poole Pirates owner Matt Ford reported the collapse of No 1 Carpet Cleansing Confined experienced place the club in a “vulnerable position”.
“We are incredibly saddened. I think men and women would have noticed through the course of the period, or realised there was a difficulty with No1 Carpet Cleansing Limited,” he mentioned.
“It unfortunately has left us in a susceptible placement in respect of shifting forward for 2020.
“We are pretty reliant on sponsors to support maintain the club afloat and we had been extremely lucky hence significantly in not experiencing any problems.”
He extra: “Financially, it has very easily been the worst 12 months for the club considering that I have been concerned.”