Matt 369
Quote: On a positive note Avtech provided a good service and will do again.
Gave a good service to whom? £38,000 owed to All Aero, £23,000 to Avionicair, £42,000 to Honeywell , £65,000 to West Star, the list goes on. (Trade creditors of £612K out of a total of £1.3million). Do you think they got good service? It just means that companies that struggle to pay their bills will get hit again with higher charges to compensate for those who do not pay their bills.
If you look at the administrator's statement, they think that of £540,000 book debtors only £199,000 will be realised. That means that the "loyal customers" of Avtec are not prepared to pay £341,000 of the money they owe. As some of the debtors appear to be the "new owners" I think the creditors need to ask some pretty hard questions. Me thinks things do not add up.