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P INSOLVENCY
Page 7
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Thorburn in Liquidation after 'naive rescue bid
PFLEAGLIERED LIVERPOOL haulage firm Thorburn Transport has been placed into liquidation after the insolvency practitioner handling the case said the new owner was "nave" in buying it without carrying out sufficient checks.
Mansoor Hussain bought the company from Jeanette Thorburn Warder shortly before Traffic Commissioner Beverley Bell (pictured) revoked its licence in April.
According to a spokesman for Manchester financial adviser Jones Lowndes Dwyer (JLD), Hussain put money into the firm to pay staff and fuel bills, but this didn't save it. He adds: "No proper due diligence was done. I think [Hussain] was probably nave; it was an opportunity he thought he couldn't turn down.''
At a creditors' meeting last week, Claire Dwyer was appointed liquidator and the company will now be dissolved.
As CM went to press, Hussain did not respond.