BEATEN BY COMPETITION
PASTRYCOOK’S FAILURE REASON FOR BANKRUPTCY His business made profitless by high rents and competition, Claude Albert King, pastrycook, of 121 Ponsonby Road, was forced to go bankrupt. He was examined yesterday by the deputy-official assignee. Mr. V. R. Crowhurst. Bankrupt owed £llß to unsecured creditors, and with his assets estimated at £37, there was a deficiency of £Bl. Bankrupt said he had begun business in January, 1928, when the turnover in his shop was about £l4 a week. Work in a temporary position, and a loan of £4O on a life insurance policy enabled him to finance his business. He later lost trade, and being pressed by his principal creditor, was forced to file. ! It was decided that the assignee | should make arrangements for the I bankrupt to pay his by instalments.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19290508.2.72
Bibliographic details
Sun (Auckland), Volume III, Issue 657, 8 May 1929, Page 7
Word Count
135BEATEN BY COMPETITION Sun (Auckland), Volume III, Issue 657, 8 May 1929, Page 7
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