Osborne creditors told to fear worst
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• Creditors owed £1.5 million after the collapse of international haulier JG Osborne were told last week that there is little chance of most recouping their debt.
The bad news came when creditors meeting after the voluntary liquidation of the northeast operator were told that although secured creditors should receive some pay out, it appears there will be very little for the 106 unsecured creditors.
Finance companies are the biggest losers owed £640,000.
Royscot Trust is owed £140,000 and NWS £157,000. Fuel companies and ferry operators are also hard hit.
However directors Ron and Sue Osborne are also on the list of creditors, having lost £120,000. They last injected their own cash into the Rotherham business in August, three months before the company ceased trading. The £2 million turnover company then went into voluntary liquidation.