BANKRUPT PASTRYCOOK.
RENT AND COMPETITION.
PAYING DEBTS IN INSTALMENTS.
A high rental and strong competition were tho causes given for bankruptcy by Claude Albert King, pastrycook, of 121, Ponsonby Road, who was examined yesterday by the deputy-official assignee, Mr. V. R. Crowkurst.
Bankrupt owed £llß to unsecured creditors. Assets were estimated at £37, leaving a deficiency of £Bl. In his statement, bankrupt said that he purchased the business in January, 1928. The turnover was from £l3 to £l4 a week. In the first three' months ho held a temporary position, and his wages, £4 15s a week, helped to finance tho business. He obtained a loan of £4O on a life insurance policy, and this also went into tho undertaking. He lost trade to two other establishments in the neighbourhood, and Christmas business did not prove satisfactory. Pressed by his principal creditor, ho was forced to file.
Mr. Crowhurst said that bankrupt should have mado creditors aware of his position earlier.
Arrangements were left with the assignee for bankrupt to pay his debts by instalments.
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Bibliographic details
New Zealand Herald, Volume LXVI, Issue 20249, 8 May 1929, Page 14
Word Count
175BANKRUPT PASTRYCOOK. New Zealand Herald, Volume LXVI, Issue 20249, 8 May 1929, Page 14
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