BANKRUPT BAKER

Press, Volume LXXXVI, Issue 26031, 7 February 1950, Page 3

BANKRUPT BAKER

MEETING OF CREDITORS ADJOURNED A meeting of creditors of Michael Bouterey, formerly a baker, of Sumner, which was held in the office of the Official Assignee (Mr G. W Brown) yesterday, was adjourned sine die because there was not a quorum. In his statement of affairs Bouterey said he had bought a bakery in Sumner in AjJril, 1947. During the first month he was operating he had a turnover of £BO a week, but his turnover dropped when the compulsory closing of shops on Saturdays came into force. After four months in business he had found himself in difficulties. At first, when he waS baking only cakes, he was losing about £3O a month, but his turnover dropped even more when he began to bake bread.

Early in 1948 a meeting of creditors had been called, and it was decided that he should sell out. Later, on the recommendation of the State Advances Corporation, it was decided that he should carry on with the business. He continued to run the bakery, but he still lost money. A second meeting of creditors was held, and it wa s then decided that he should sell out.

He said he had worked very hard to make the business a success, and ne could not understand why the bakery was not a success. He had not been in business on his own account before.

The bankrupt’s statement showed no assets, and debts amounting to £BB2 7s 2d. There were no secured creditors.