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Gulp. There goes the dosh. - BikeBiz

Gulp. There goes the dosh.

Swallow Tandems has held two closing down sales to raise cash but will the creditors see any of it?
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According to the liquidator appointed to oversee the voluntary winding up of Swallows Tandems Ltd., closing down sales were held on Monday and Tuesday of this week.

However, whether any of the cash raised will be distributed to creditors is a moot point. Normally, in cases such as these, the preferential creditors banks, VAT, tax snaffle the lot and those who actually need the cash to keep their own businesses going, get nowt.

To see what Swallow Tandems cough up, creditors should congregate at the Lion Hotel, Wyle Cop, Shrewsbury at 11.30 am on Thursday 20th January. The liquidator is Adrian Leopard Associates, tel 01938 554642.

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