Quote Originally Posted by Andrew Richards View Post
Mr Litt was escorted from the building yesterday by the auditors.
Apparently £25million pound was invested and now its all gone
Interesting, if this actually happened?

Financial impropriety/maladministration?

It could be that they are trying to sell the business as a going concern - Administrative Receivership.

Anyone who has a gun in there (say for repair) or other items that they own (and can prove ownership) will normally be returned to them after an audit and listing of the total assets and liabilities. You should find out who the receiver (or whatever) is if you have assets in the shop - usually a firm of accountants or similar who is independent of the company and its normal auditors or it may be an Official Receiver - you should lodge your interest - eg I have a Weihrauch hw 35 serial no. etc in there for repair. If you don't do this and company records are inadequate or non existent you may not get your property back - it may be sold to realise money for preferential creditors - tax, vat, ni etc.