A FRUITERER'S BANKRUPTCY

Dominion, Volume 13, Issue 147, 17 March 1920, Page 3

A FRUITERER'S BANKRUPTCY

MEETING OF CREDITORS.

' Creditors in the bankrupt.'.'estate., of R. S.-llenzies, fruiterer, .Wellington,- attended a meeting- yesterday'jnoriiiripr, at which the Official. (Mr.. S. -Tingley) presided.- • • ' • In his .Written'statement, the.'linnlirnpt said that ho lost i considerably during .the influenza epidemic, nhd tho'shop had . .to bo closed for a fortnight. The actual result was-a loss of-.-CSO.- His pisit'on was also affected- by th« ' increase' in prices, and the shortage of sugar. The deficiency ill the estate: 2i;., The Official Assignee reported - that - ho had kept tho business going, and was making: a net profit of <825 a week. The bankrupt,- in replying to a question, said that certain' lilupnjjja'ts'Jqf fruit had to be sent to' the. auction rooms' for Kile, as there wns.no sugar available, and consequently .consumers displayed no desire to purchase fruit for- jain-iuakiiiir. 'Pnnkrupt admitted" tliot he had sold 'fruit received from Nelson' and had used tho proceeds to k,"ep hit credit going. A creditor: That .applies all round. The Official-Assignee:-You-cannot call that preference to, cred.itor.i. In answer-to further oiiest'biis, bankrupt said -he was forced into his present position.' 'it®, .had wived a- written offer of ,£450 for tho business,'-and'lnter a verbal offer of '£i"5. If tho lease .of the premises could be sold to a Chinnroan.it would f?tch .8500 'or <0500. He teHeVed. there was n .clnn-9i>. in tho Ipase which prevented this being done. It was ri'e.ntually decided tn fall tenders for-the purchase. of the .businrßS, which, is to be carried-c in the,.mean;; while by tho .Official Assttfnee.