Liquidation plan—or merger?
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• As Commercial Motor went to press, Liverpool-based Thorburn International Transport was poised to go into liquidation. Robert Rutherford, from Liverpool solicitors Parkin S Booth, told CM that a creditors' meeting was due to be held on 11 March, at which point he could be appointed official liquidator.
Rutherford declined to reveal the company's debts.
However, Thorburn's owner, Wallace Thorburn, moved to reassure creditors, claiming that everybody will be paid. "I have rung all the creditors and everybody is happy with the situation," he says.
Despite the anticipated liquidation, Thorburn claims he is merging Thorburn International with his other Liverpool firm, Crown Cold Stores: "Each company had its own infrastructure and its own management," he says. "We decided to bring them together as one company to streamline the business."
The renamed firm, Crown Cold Storage and Distribution, runs 15 vehicles handling deliveries, mainly for pharmaceutical companies. "We have the best fleet of wagons in the North," says Thorburn. "We are not cowboys."
At the end of 1994 Thorburn's accounts showed losses of £46,650 on a turnover of £898,000,