A STOREKEEPER'S BANKRUPTCY.
The statements of assets and liabilities in the bankrupt estate of D. D. Lannan, storekeeper, at present of the Great North Road, and formerly of Paeroa, shows debts to unsecured creditors, totalling £172 6f, and assets (including book debts £B+, estimated to . produce* £70) amounting to £142 4s 7d, the deficiency thus being £30 Is sd. The debtor, in a statement furnished to the official assignee (Mr. E. Gerard), states that ho first tried a cash business, but without success. Ho then put the goods up for sale by auction, but the prices realised were so small that he stopped the sale of. many items, and packed them up for shipment back- to his agents. On April 19 last his place was burned down, and he lost £37 in money, besides all his books and the goods packed for shipment back to Auckland. ■ Had it not ber.ii for this fire lie would have been able to pay his - creditors in full. The furniture belonged to his-' wife. At the time of the fire his book debts amounted to £140. He was at present out of employment. His wife had a small fruit business at Grey Lynn, but it was -not-bringing in enough profit to clear expenses and rent.
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Bibliographic details
New Zealand Herald, Volume XLIII, Issue 13193, 2 June 1906, Page 6
Word Count
211A STOREKEEPER'S BANKRUPTCY. New Zealand Herald, Volume XLIII, Issue 13193, 2 June 1906, Page 6
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