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P VOLUNTARY LIQUIDATION
Page 10
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WKH international enters liquidation
WKH INTERNATIONAL has gone into voluntary liquidation owing £157,102, but with available assets of just £49,000.
The Kirkby, Liverpool-based firm appointed Martin Andrew Shaw of Refresh Recovery as liquidator on 8 June.
WKH's statement of affairs shows it has a total deficiency of £108,103, after paying preferential creditor Bibby's Financial Services £49,000 of the £55,000 it was owed. HM Revenue & Customs is owed £13,282.97, while trade and expense creditors include Eurotunnel and Mac European Freight.
"The main reasons for insolvency were the lengthy payment terms and their customers not adhering to them. Also the contracting out of work by a transport manager at that time, which was unbeknown to the director," says Michael
impson, case administrator.