Re: Re: Pierse Construction in Liquidation
@PVC King wrote:
This is a real tragedy, looking at their contribtion of the past few decades t…………….You strongly hope that those behind Pierse get themselves back up and running.
Tragedy my arse……… PVC, that post of yours is like the ones Brian Oâ€™H. used to write extolling the virtues of Zoe. 😉
Pierse has gone under with a deficit in excess of Euro200 million, of which more than 25% (>50 million) is due to ordinary trade creditors. That means that the knock-on effect will further add to the woes of those creditors â€“ most already overstretched – and will hasten their demise. The size of the deficit would suggest to any financier â€˜trading while insolvent,â€™ particularly when one looks at the amount of intercompany debt. I wonder where all that money went……