Directors of Heritage Glass (Shrewsbury) held a board meeting on Tuesday and decided to place the company into a creditors’ voluntary liquidation with a financial black hole estimated to be about 800,000.
The company, based at Racecourse Crescent, Monkmoor, had been trading for 23 years. It has identified a Shropshire-based insolvency practitioner to handle the liquidation and to secure the company’s assets. The appointment of Nick West, of West Advisory, in Telford, is subject to confirmation by creditors.
Mr West said retail customers are classified as “unsecured creditors” and they are unlikely to get much if anything back.