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Architects leave debts of almost £500k
The Herald
|December 04, 2024
AN award-winning Plymouth architecture company has left debts of nearly £500,000 after collapsing, it can be revealed.
Millbay-based firm ADG, which designed some of the city's most eye-catching buildings over the past 40 years, ceased trading and went into liquidation last month.
Now documents filed at Companies House show ADG Consultancy Ltd left assets of £48,202 but large amounts owed in unpaid taxes, to its bank and to employees in unpaid redundancy money - most of which won't get paid.
The assets will pay the £33,462 owed to 12 workers in wages and holiday pay, but they will be short of £141,935 in redundancy and cash in lieu of notice, for which they are classed as unsecured creditors.
With just £14,739 left after paying staff, it will only cover a small portion of the £142,031 owed to HM Revenue and Customs in unpaid VAT and Income Tax.
This story is from the December 04, 2024 edition of The Herald.
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