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DRS (EU) creditors to get ‘nominal’ dividend

  • 03 December 2012
  • By Chris Tindall

Creditors of DRS (EU), the failed business bought by RJ Jones Group in 2008, will only receive a very small portion of the money owed to them, according to Begbies Traynor.

The Northamptonshire haulage firm has now entered liquidation after going into administration in April and creditors have until 31 December to make Begbies Traynor aware of their claims.

Its failure was blamed on a £200,000 bad debt and premises that were too large and expensive.

Nearly all its 28 staff were re-employed within the Jones Group.

In July the administrator said hauliers that carried out work on behalf of the comapny should receive some of the money owed to them, but David Moore, a partner at Begbies Traynor has now told CM.com: “There will be a dividend but it will be nominal.”

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Article source: http://www.commercialmotor.com:80/latest-news/drs-eu-creditors-to-get-nominal-dividend