Insolvency Service shuts down Mersey food distributor

THE INSOLVENCY Service has shut down a food & drink wholesaler in St Helens trading as 50 Cent UK Ltd.

A petition by the Secretary of State for Business Innovation and Skills has presented a petition in the High Court to wind up the ccompany in the public interest following enquiries made into its affairs by the Company Investigations branch of the Insolvency Service.

It was appointed as provisional liquidator of the business last week to protect the assets and financial records of the business pending the High Court hearing. It also has the power to investigate the company’s affairs in order to protect ay third party or trust monies or assets which are under the company’s control.

The Insolvency Service said that no more information can be given about the company until the winding-up petition is heard in the High Court in June. All of the company’s former directors have resigned from the company’s board.