The first meeting of creditors of Richard Samuel Ashford, 10 Westfield-avenue, Rushden, carrying on business as timber merchant, at Washbrook-road, Rushden, was held at the offices of the Official Receiver (Mr. A. J. Rogers), at Northampton on Monday.
The Official Receiver said the unsecured liabilities were £457 15s. 1d., available assets £208 7s. 4d., leaving a deficiency of £249 7s. 9d.
The alleged cause of failure was lack of capital, keen competition, and loss on a motor-lorry. An attempt had been made, said Mr. Rogers, to carry the matter through by private arrangement, but for some reason or other this was not acceptable to certain of the creditors.
The matter was left in the hands of the Official Receiver as Trustee.