GHA Group (Bryn Melyn, Vale Travel + Others)

[DLG817]

RE: GHA Group (Bryn Melyn, Vale Travel + Others)
.
Administrators Progress Report

I have been made aware that the Administrators have produced a progress report.

A copy can be downloaded from the Companies House website - LINK

There is also a copy on my website - LINK

A few interesting points :-

There appears to be a dispute as the ownership of Unit 10 at Ruabon which may still belong to a 'former director'.

Unit 11 belongs to the subsidiary Bryn Melyn Limited

Nearly £1.4 million was raised during the four auctions but the net amount was less than £.9 million.

Whilst preferential creditors (redundancy payments, holiday pay, unpaid pension deductions) are likley to be paid in full it appears that the unsecured creditors may only be paid at 3p in the pound.

It appears that the costs of the Administration to date have been some £0.8 million with nearly half of that in fees to the Administrators and the other half in retained staff costs, site security, professional and legal fees, insurance etc.

An interesting recorded payment was ransom payments of £1,183.97 and another payment was recorded as a Director's settlement of 0.11p