07.01.2009

PSS further warnings

Since we posted a report on the upcoming liquidation of UK contract lift and training company PSS (Lifting) we have had numerous calls from readers who claim to have been left with bad debts, in circumstances that are, to say the least, suspect.

One call yesterday claimed that the principles are continuing to re-rent cranes from suppliers who are unaware that the original business is due to go into liquidation and that anyone trading with it will not be paid.

We have attempted to contact Lee Rowe of PSS for his version of events, but have not yet managed to reach him.

UPDATE:

We have now managed to reach Lee Rowe, who has just returned from overseas. He tells us that the liquidation is purely the closure of one of two PSS companies, the other being PSS(LT) Ltd, which is shown in Companies House as being dormant. Although according to Rowe, this has in fact been the active company over the past 18 months. Both companies were registered on the same day in 2006.

Companies House does indicate the opposite to what Rowe says, but he claims that this is due to a reporting delay. He also told us that the only creditor of PSS (Lifting) is the Inland Revenue, and that those companies claiming that they have been left with a bad debt have simply invoiced the wrong company, in spite of repeated warnings.

The creditors meeting to formally appoint the liquidator is scheduled for 10:00am on January 16th, at 14 Wood street Bolton.

Vertikal Comment

One thing seems clear from all of the responses we have received, the Rowes are continuing to buy in services without making it clear to at least some suppliers that their principal business, PSS (lifting), is being liquidated.

While we appreciate that in tough times insolvency can strike the best of businesses (but by the grace of God go I) one expects those looking to save a business or start up again, to at least play fair and open and to deal straight.

If even half of the calls and mails we have received regarding the PSS failure, are to be believed, these attributes are not on the agenda. Hopefully our correspondents are not representative of the whole.

UPDATE:
It is odd to recieve such divergent information on a single so clearly hot subject. Our calls to the liquidator for a third opinion have yet to be returned.