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Rushden Echo & Argus, 7th July 1922, transcribed by Kay Collins
Spriggs and Pearson
Rushden Shoe Firm’s Failure
Selling Goods Under Cost Price – Public Examination in Bankruptcy

At the Northampton Bankruptcy Court on Tuesday the public examination took place of Alfred Geo Spriggs, 8 Harborough-road, Rushden, and Walter Harry Pearson, 10 Windmill-road, Rushden, carrying on business in partnership as Spriggs and Pearson, shoe manufacturers. Liabilities expected to rank £3,020 11s., assets £84 9s. 6d., deficiency £2,199 1s. 6d.

Answering the Official Receiver, Mr Spriggs said he and Pearson, formerly shoe foremen, commenced business in February 1919, each contributing £65.

Business was fairly good at first, and then they took larger premises and fitted them up as a factory. They were successful up to about last Christmas, when they found that the running trade expenses were too heavy. They lost £674 in four months. They had been selling goods under cost in order to get ready money. Debtor said they had paid to their traveller during 1921 and up to the time when he left, £1,289. He and his partner drew only £4 a week.

Mr Pearson was also examined. Case adjourned to August 1st.

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