|D&D Wines liquidation starts early|
|Written by Gemma McKenna|
|Monday, 09 July 2012 13:30|
D&D Wines International’s creditors - who are owed £10.5 million - rejected all the proposals put forward by administrators and called for independent liquidators to be appointed instead.
As we reported on Friday, liquidators Kerry Bailey and Trevor Birch of PKF Accountants & Business Advisers have been appointed, although they take up this role sooner than anticipated.
At the meeting of creditors held on June 29, creditors with claims totalling £7 million, rejected RSM Tenon’s proposals and passed a resolution that the company should proceed into liquidation within 14 days and that Kerry Bailey and Trevor Birch of PKF (UK) LLP should be appointed as joint liquidators.
At a court hearing on Monday in the Manchester District Registry, the presiding judge ordered that the company should proceed into liquidation immediately and ordered that RSM Tenon file their notices of ceasing to act by 4pm today, Monday July 9. PKF takes up its role immediately thereafter.
D&D Wines International, based in Knutsford, Cheshire was incorporated in 1989 to carry forward the business of its proprietor, who had commenced trading in 1973.