TWO BUMPER DEBTS WILL MOST LIKELY NEVER BE RECOVERED SAYS COUNCIL

ALMOST  £150,000  in business rates owed by two Grimsby-area firms  is unlikely ever to be recovered.

This is the regrettable truth faced by North East Lincolnshire Council's finance chiefs  who have all but given up hope of recovering the debts.

According to documents seen by the Grimsby News, Parity Bars (Grimsby) Ltd  owes £67,854.84.  while IPM Utilities 1 Ltd owes  £81,732.76. 

In the case of Parity, administrators were appointed on  October  19, 2015, and the company was officially dissolved on 25 January, 2017.

Meanwhile, in the case  IPM Utilities 1 Ltd, whose interests are also believed to include pubs, liquidators were appointed on  February 26, 2018. 

Says NELC: "Due to the structure of the business and significant investigations into  the company, the liquidation and winding up procedure is still  ongoing.

However, the last report dated 25th February 25, 2019, stated  that the company had no bank account and that there will be no  dividend realised for any of the creditors including HMRC.   

At a meeting of NELC's cabinet tomorrow (Wednesday March 11), members will be recommended to write off both  debts.

More details about the two businesses and their directors can be found via an online search of the Companies House website.