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Nil payout for Beaumont creditors

Creditors of the failed water heater maker Beaumont (UK) Ltd will receive nothing, it has emerged.
Liquidator Andrew Whelan of Marks Bloom has written to creditors advising that realisations from assets were slightly higher than anticipated following a VAT refund – but that the realisation was sufficient only to cover some of the liquidation costs, leaving nothing for creditors of any class.

Beaumont went into liquidation in June last year, with a total deficiency of just over £1m, after sales plunged from £1.75m in 2005 to £438k two years later, with a net profit of £66k replaced by a net loss of £161k in the same period.

In September 2009, former Beaumont general manager Jim Fallon took over the trading names of Beaumont (UK), Beaumont Water Heaters and Beaumont Hire & Leasing. He is trading as Bation Water Heaters Ltd and Bation Hire & Leasing Ltd, and is based at Beaumont’s former address at Blythe Farm, Mill Street, Gamlingay, Cambridgeshire.

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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