FAILURE IN WOOL TRADE.
BIG FIRM IN TROUBLE. By Telegraph.—Pre®# Assa —CopyrifhL Received August 28, 5.5 p.m. Ijondon, August 27. A sensation has been caused in the heavy woollen trade by the Fenton Textile Association. Ltd., of Batley, Dewsbury and Leeds, announcing that owing to the recent extraordinary fall in stock values and the consequent restriction of credit facilities and the general abnormal state of the textile trade, they are reluctantly compelled to apply to the High Court for the appointment of a Receiver. Fenton’s, Ltd., is one of the moat important of the wool textile firms. It was turned into a company in 1919 and acquired a number of old-establiahed businesses. Its capital is £2,000,009, of which Mr. Henry Fenton, the chairman, holds £1,010,000, practically the whole of the issued capital. The firm’s solicitors state that with the goodwill and co-operation of the directotrs, they are of opinion that the creditors, both aecured and unsecured, will not sustain any loss.—Aus.-N.Z. Cable Assn.
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Taranaki Daily News, 29 August 1921, Page 4
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163FAILURE IN WOOL TRADE. Taranaki Daily News, 29 August 1921, Page 4
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