THOSE owed money by Style Group – the construction, windows and interiors business which abruptly ceased trading last month – are being invited to attend a creditors’ meeting.
Held at St Saviour’s Parish Hall at 3pm on Wednesday 24 September, the meeting will set out the failed group’s financial position and ask creditors present to choose liquidators to wind it up.
Aidan Tucker and Louis Gerber of Leonard Curtis Jersey Limited have been nominated by the Style Group.
A formal notice of the creditors’ meeting, which appeared in the Jersey Gazette, is signed by Style Group director, Edward Poynton.
Meanwhile, the Viscount’s department has issued a ‘notice of distraint’ on ‘all moveable assets’ of AC Mauger, the construction firm of the Style Group.
It will involve a sale of those assets although the date of sale is to be confirmed.
A notice of distraint is a formal warning from a creditor, in this case the Government, to a debtor that their assets will be seized and potentially sold to recover unpaid debts, such as taxes and social security contributions.
Style Group was a major player in Jersey’s construction industry until its collapse on Thursday 14 August.
In a letter sent to staff at the time, the company said that “the challenges facing the business have made it impossible to continue”.
It continued: “In order to protect all parties’ interests interest we have needed to place all payments on hold, and that unfortunately includes salaries and wages.”
Staff were asked to return all company property “with immediate effect”.
Style Group joined a growing list of construction businesses which have gone into administration in the last few years, including Garenne Group, which owned Camerons, MAC Group, Mitchell and JP Mauger.
