Time called on pub services firm
A PRESTON-based company which offered cellar services to pubs and restaurants has been placed into administration.
Three Nations (Northern), which had been trading as Total Cellar Systems, had witnessed a slump in trade in recent years, with turnover falling from £8m in 2008 to £5.3m in 2009 – the last year for which accounts were filed, when it declared a pre-tax loss of £395,000. Lindsay Cooper and Russell Cash from the Manchester office of Baker Tilly Restructuring have been appointed as joint administrators.
Cooper told TheBusinessDesk.com that the company had ceased trading prior to its appointment and that most of its employees had transferred to a connected company several months before the administration.
She added that the administrators were currently looking to realise the company’s assets – principally its debtor book – in order to obtain a return for creditors.
