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Cyclo creditors meeting called off - BikeBiz

Cyclo creditors meeting called off

The insolvency practitioners acting on behalf of Cyclo have ditched the Birmingham tool maker because of an information blackhole
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Further to our earlier story on the creditors voluntary liquidation of Cyclo of Perry bar, Birmingham, their appointed insolvency practitioners, Poppleton & Appleby of Sheffield, have written to all creditors saying the 18th November Creditors Meeting they had convened was now cancelled.

This is because Cyclo, say Poppleton & Appleby, has not provided the necessary information to compile a creditors report:

Due to the fact we have been unable to obtain from the company sufficient information to proide the required detailed Report and Statement of Affairs for presentation to the [Creditors] Meeting we have advised the Directors we are no longer prepared to act, wrote a spokesperson for Poppleton & Appleby.

Creditors are advised to contact Cyclo direct, says the insolvency practitioners letter.

Cyclo make die-cast cycle tools. Up to 30 people could lose their jobs at Cyclo and the associated die-cast company on the same site.

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