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Speedy route to administration
Page 13
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LEICESTER-BASED operator Speedy Despatch International has been forced into administration following a dispute between its two directors.
According to insolvency practitioner CBA, which was appointed on 30 July, the firm had only just been breaking even for the past three years: it estimates the debts may eventually reach £70,000.
CBA administrator Mark Tailby says: "It will be placed into liquidation in the near future. The company has been ticking over for a long time and breaking even. Also, there was a marital dispute between the directors... one wanted to take it one way, the other wanted to take it another way."
Speedy's directors, Janice and David Leavis, were not willing to comment about the firm's collapse.
Accounts at Companies House for the year to 31 October 2003 state: "The directors consider it appropriate to prepare financial statements on the going-concern basis, even though a net shareholders' deficiency exists at the year end."