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:oales in the ashes
Page 7
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YLESBURY-BASED Coates istribution has gone into volraary liquidation with debts of 50,000, leading to the loss of )out 100 jobs.
The national distribution cornany. with offices in Bradford, aling and Aston Clinton in Buckghamshire, took employees by rprise when they returned after bristmas to find the company had !ased trading on 2 January. One river says there were no rumours f any financial difficulties.
Accounts for the firm show that had a turnover of around £5m 2002.
Leeds-based liquidator Cham berlain & Co has taken control of the firm's finances; a spokeswoman says the majority of staff at the three depots have been made redundant and a creditors' meeting will take place on the 22 January.
"[Coates Distribution] was trading for a number of months with a shortfall of £50,000:" she adds.
Driver Chris Perrin says: "I broke up on 23 December; they even delivered a turkey to my house as a Christmas goodwill gesture. I returned on 2 January and I was there for two hours before they told me the liquidators were in. There were no rumours, no hints, nothing."