Project Miner Franchise Limited
*Please ensure you read the full statement prior to contacting Parker Andrews Limited.*
Project Miner Franchise Limited (“the Company”) has ceased trading on 2 July 2019 and will be entering Creditors’ Voluntary Liquidation in due course. The Company has instructed Parker Andrews Limited to assist with placing the Company into Liquidation.
Notices will be sent to the Company’s stakeholders shortly and we have covered the frequently asked questions from creditors below. Should you have any further questions which have not been covered below, please contact Sam Stoupe Sam.Stoupe@parkerandrews.co.uk or 01603 284284.
Frequently Asked Questions:
How does a Liquidation work?
Notices will be sent to the Company’s stakeholders shortly which will detail the decision procedure to place the Company into Liquidation. Following this, the appointed Liquidator’s responsibility is to realise the Company’s assets for the benefit of creditors. If there are sufficient assets available, the funds recovered may be distributed to creditors in the statutory order of priority. Based on the information provided to date, it is unlikely that there will be a distribution to unsecured creditors.
As a Franchisee, will I still be classed as an unsecured creditor?
Yes, if you are a Franchisee and owed funds from the Company. You will be classed as an unsecured creditor for the purpose of the Liquidation. Please note, any money owed does not include the initial purchase fee of the franchise.
How can I claim in the Liquidation?
As above, notices will be sent to stakeholders shortly. Enclosed within the notice will be a proof of debt form. Please complete and return this form to formally submit your claim in the Liquidation.
How can I keep updated with the Liquidator’s progress and how long will the Liquidation last?
The appointed Liquidator is required to provide a report to creditors every 12 months until the Liquidation has concluded. Once the Liquidation is completed, the Liquidator is required to provide his final report to creditors on the overall outcome of the Liquidation.
Any other queries.
Please contact Sam Stoupe (details above) should you have any further questions. Please note the notices will be sent to creditors once Parker Andrews Limited has obtained the information required to complete the report. Please bear with us whilst this is being prepared.
