Scorpion Racing the final chapter or part 2

[Dieselhead]

yeah I know 

[Helga08]

So The Phoenix is Flying?

[Rick Tarr]

Sections 99 to 101 of the Insolvency Act 1986 deal with the appointment of a liquidator which sounds pretty bad 

[Tony F]

According to the Scorpion Racing website:

Scorpion Racing is under new management.
59 Great Cambridge Road
Cheshunt, EN8 8NZ
TEL: +44 (0)1992 630 701

Guessed that it was the shop that used to sell bling wheels etc for boy racers next to the Post Office on the corner with College Road (for anyone who knows the area).

Drove past there today, all there is a shop with no sign and a closed roller shutter???

Certainly don't think there are any workshops round the back so is this just going to be a retail or mail order outlet? Time will no doubt tell

[Guy110]

Sections 99 to 101 of the Insolvency Act 1986 deal with the appointment of a liquidator which sounds pretty bad 

A natural exit from adminstration and given the exact circumstances, the only one available and logical one.

[andylandy]

 anybody on here going


cant wait to here the problems of why they have gone bust?

[Helga08]

As far as I know only ONE company is going - according to the administrator.

So either the letters didnt go out, or people are backing off for some reason?

MAYBE that's because there IS a second company and a quiet word has been had with all the creditors - for continued trading...apart from the one I know IS going

All circumstantial I am sure....

Facts tomorrow

[Ciderman]

Thats so common these days , Well as long as the tax man gets shafted first it would be ideal .
 But hes the first one on the scene with his grabbing hand out .

 I worked for a firm years ago who put themselves through every other year , kept the suppliers sweet and shafted everyone else . But they started up the following day with a shorter or different company name .

[Guy110]

Thats so common these days , Well as long as the tax man gets shafted first it would be ideal .
 But hes the first one on the scene with his grabbing hand out .

Not correct I'm afraid. The 2002 Enterprise Act removed Crown preference (except on beer duty) and it now ranks equally with other unsecured creditors.

It is secured creditors such as banks and other lenders that are first in line and they certainly take no prisoners.