Merseyside-based WKH International enters voluntary liquidation

Merseyside operator WKH International has gone into voluntary liquidation owing £157,102, but with available assets of just £49,000.

The Kirkby, Liverpool-based firm appointed Martin Andrew Shaw of Refresh Recovery as liquidator for the company on 8 June.

WKH International's statement of affairs shows it has a total deficiency of £108,103, after paying preferential creditor Bibby's Financial Services £49,000 of the £55,000 it was owed.

HM Revenue & Customs (HMRC) is owed £13,282.97, while trade and expense creditors include Eurotunnel and Mac European Freight.

"The main reasons for insolvency were the lengthy payment terms and their customers not adhering to them, and the contracting out of work by a transport manager at that time, which was unbeknown to the director and the economic climate," Michael Bimpson, case administrator tells Roadtransport.com

The business had two HGVs and two Mercedes Sprinter vans, and used a number of subcontractors. Three employees were made redundant.