UNLUCKY BLACK CAT

Sun (Auckland), Volume I, Issue 227, 14 December 1927, Page 1

UNLUCKY BLACK CAT

CAFE BUSINESS FAILS NOTHING FOR CREDITORS Th© symbol of th© black cat proved anything but lucky for Alice Mary Ratcliffe, bankrupt proprietress of a Customs Street cafe so named. She was a successful country storekeeper until November 25, when she embarked on the more ambitious venture. A meeting of her creditors was held this morning in the office of the Official Assignee, Mr. G. N. Morris. The assignee informed creditors that realisation of the estate had brought only £ 11, which would be insufficient to meet wages claims without consideration of other liabilities. Debtor’s financial schedule showed £444 owing to unsecured creditors and £ 1 587 to secured creditors. Other habilities were set down at £l3. The value of securities was given as £2,100. The assets totalled £5lB. consisting of furniture worth £5 and surplus of securiU< Bankrupt said that having had previous experience as a restaurant proprietress she opened the Black Cat dining rooms in Customs Street. She borrowed various sums for fitting out the cafe and business was good until February, 1926, when she became ill and had to leave the management to others. Last February she decided to sell for £BOO, the purchasers, two women, to pay £4 weekly. These people ran the business for six weeks, paid nothing, and then started an opposition restaurant. They subsequently left the country. The business was practically ruined and she endeavoured to carry on until creditors seized her furniture. . . , , She was now working as an hotel cook, and her husband, a boiler-maker, had been out of work for a year. Mr. Morris said he would call another meeting if creditors desired to examine Mrs. Ratcliffe, who could not attend the meeting owing to the critical illness of her mother, but satisfaction was expressed with her conduct, and the meeting was adjourned sine die.