The directors of Timber Show organiser East Exhibitions Ltd are the only creditors to secure any monies from the company’s demise.
In a report detailing the winding-up, liquidator Irwin & Company said the directors, who are preferential creditors, received £877 in respect of redundancy payments, arrears of pay and holiday pay.
In total, creditors – including HSBC, a host of timber companies in the UK and Europe and exhibition venue London ExCeL – were owed about £240,000.
Irwin’s report says the directors had to pay £4,700 towards the liquidation proceedings. East Exhibitions’ only assets were IT and office equipment worth £139 and £1,249 in a trust account.
A final meeting for creditors will be held at Irwin’s office in Sutton Coldfield on March 18.
The Timber Show was launched in 2006 as the UK’s first dedicated exhibition for suppliers and buyers of timber. Turnout was low for the inaugural event but some exhibitors reported quality contacts.
The following year’s event was changed from the autumn to the spring of 2008 to avoid conflict with Interbuild. But the decision impacted on budgets, bookings were slower than expected and moves to secure third-party funding failed.
