Confusion over failed firm
Page 7
If you've noticed an error in this article please click here to report it so we can fix it.
dominic.perryMrhi.co.uk NEARLY A WEEK after one of its businesses was put into liquidation, there are still no definite answers as to who is running a well-known Southampton transport group.
Boyes Conning Freight Services went into liquidation on 8 September, but despite its sole director and owner being grilled at a meeting, creditors remain unaware of who is taking day-to-day decisions.
The man in question is Faridoon Yaghoobzadeh who took control when his firm, MillgoId Investments, bought Hants-based GJ Cooper Holdings on 12 July. GJ Cooper is the parent company of Boyes Conning along with Cooper Road Sea and Chalcroft Logistics.
Yaghoobzadeh, a Manchester resident, said he only ever spent two days a week at GJ Cooper and Boyes Conning's head office and had no power to sign-off invoices.
When asked how the company had run up what was described as an "unauthorised overdraft" of 04,000 in little over a month since he took control,Yaghoobzadeb was unable to give a clear answer.
In addition, the firm's former MD, Simon Webb, who still works at the company, says that he has never even met Yaghoohzacleh.
Even though part of the group is in liquidation, Webb says that there has been little information given to employees to reassure them of the rest of the group's health.
Webb says he and another senior manager have been left to deal with worried employees and run the operational side of the business A spokesman for Boyes Conning's liquidator, Riffles & Co, adds: "The employees' situation is confusing. We have written to them to inform them of their redundancy, but it seems that no one has stopped working. That begs the question: who are they working for? We are not in a position to answer that."
He says it is investigating who ran the company post-acquisition. No one from G.1 Cooper or Millgold Investments was available to comment.