LOSS OF £4,000
CREDITORS DISSATISFIED (Special to THE SUN) CHRISTCHURCH, Friday. The creditors of George Wilcox, garage proprietor, of Ashburton, are dissatisfied with the mere statement that bankrupt had started with £6O" and in two years’ trading had lost £4.062 17s Id Bankrupt said he took over the Ashburton agency for Dominion Motors, Ltd., Christchurch. Following a change of managership in the Christchurch branchy he was debited with the past losses on second-hand cars and .this, with high expenses, had caused his failure.
The official assignee has carried on the business, receiving approximately £238.
Mr. A. S. Nicholls, for a creditor, asked hew £4,000 had been lost in two years. It could not all Lave been lost through second-hand cars. The assignee said bankrupt’s failure was due to mismanagement and extravagant living.
It was decided to adjourn the meeting to enable him to investigate the accounts.
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Bibliographic details
Sun (Auckland), Volume II, Issue 418, 28 July 1928, Page 13
Word Count
146LOSS OF £4,000 Sun (Auckland), Volume II, Issue 418, 28 July 1928, Page 13
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