FG creditors won’t get paid
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UNSECURED CREDITORS of stricken West Midlands-based FG Foster Haulage are unlikely to get a dividend, according to its administrators.
However, documents filed at Companies House reveal that SFP believes a distribution may be made to one or more secured or preferential creditors once property belonging to the business has been sold.
FG Foster’s directors had been advised to place the business into liquidation after the business suffered continued cash flow problems.
However, it was placed into administration instead by Hitachi Capital, which operated an invoice discounting agreement with the company, on 14 January. The administrator says its general investigations into the company’s affairs have been hampered by a lack of response from creditors, and it urges anyone owed money to get in touch.
Documents also reveal that an insurance claim is being processed in regards to a stolen vehicle, which is subject to finance.
Director Hayley Foster did not respond to CM’s calls.
● To contact SFP call: 020 7538 2222