Fry Transport estimated to owe creditors C1.5m
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christindt1.78fagooglemait.com FRY TRANSPORTS total deficiency is an estimated £1.5m, according to its liquidator.
Following a meeting last month between the Ballymena. Co. Antrim firm's boss, Samuel Fry. and liquidators Lynehehaun & Associates, it was agreed that the company would he wound-up through a creditors' voluntary liquidation.
The directors tell CM that the economic downturn was responsible for it being unable to secure shipping and fuel services (CM 21 January).
The liquidator estimates that debts to unsecured creditors could amount to £l,6m. P&O European Ferries confirms that it is owed more than &IMMO. A spokesman
declined to go into details. hut says: "It's a sign of the times. and of the economy at the moment. It's sad to see a company go that way.
Co. Antrim trailer-maker SDC Trailers is listed as being owed £6,670, hut managing director Mark Cuskern reveals that it has not lost out. He adds: "It was for parts, hut we had a reservation of title 'clause} on them. We arc not far away, so we collected the parts on the Monday morning.
Cuske rn adds that Fry Transport's closure came as a shock:"It seemed to happen over the weekend. The first I heard was at nine o'clock on the Monday morning. We hadn't heard that they were in any difficulty. so it came as a complete surprise.
The liquidator had not responded as CM closed for press.