Creditors will be paid in full
30th May 1969, Page 17
30th May 1969
Page 17
Page 17, 30th May 1969
— Creditors will be paid in full
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• Allisons Freight Lines Ltd. shareholders received a formal takeover offer from Amalgamated Rubber and Industrial Holdings Ltd, last Friday. The offer closes On June 16.
A spokesman for Allisons told CM this week that those creditors whose debit did not exceed £50 would be paid by the middle of June. The larger creditors, who include five companies, banks and hire purchase companies, will be paid in full by six-monthly instalments over the next two years.
As recorded in CM January 24, Allisons was saved from possible liquidation by the intervention of Amalgamated Rubber. Amalgamated Rubber (CM February 7) paid £200,000 to Lloyds Bank as part of the £300,000 repayment of debenture stock.