Evesham left debts of £6.8m

Defunct British PC maker Evesham Technology went bust owing creditors nearly £7m, the firm's administrators have revealed. However, unsecured creditors can forget any chance of a payout because there are no "surplus funds" available. In a creditors report covering Evesham Technology, Evesham Technology Holdings and Mertec …

[Anonymous Coward]

Sorry.. How does this work,.,, 650K loan for £150K payback ??

Is anyone bothered that Austin can walk away with £500K Cash, tax free.. £650K loan and he he only pays back £150K.. and I bet this is at £50 per week or something ridiculous. Are all his assets are under Mrs Austin ?.. wonder how many other people are out there considering a Pre Pack sale considering how profitable the last 3 have been for their owners. I am staggered that it seems so easy to get away with this and I think we will see a lot more of these.

Im now waiting to see another New Co formed by ex Watford/Evesham/Time ..Jessa, Austin/Mohsan. .. look out for new names out there.. "WET JAM", maybe even a film directed by Simon Pegg ?... could be the making of Britain's best "farce" or even a decent Carry On film..... Carry On "....." best title by return please

[N]

There should be a public inquiry!

Sadly there are aspects of company law that get abused.

Those double glazing firms that change names on a regular basis? They're just closing down and taking advantage of the opportunity to get away from tax debts, creditors, etc.

Then you get things on a rather different level - Mr Towers and colleagues at Rover, anyone?

Now that's a thorny one. They kept several thousand people employed for some years and attempted to sell on the company, only giving up when the deal fell through partly because of the workers' pensions issue. In the process they managed to line their own pension fund pockets quite substantially. Or at least that's what the media would have us believe.

It seems we have to spend millions, lots and lots of them, on an DTI inquiry in cahoots with a sodding expensive accountancy firm. Basically a quango - but then the proliferation of such things is one of the blessings Tony has bestowed on us.

So let's dig the dirt on Evesham and waste / spend / flush yet more taxpayers money.