LOSSES BY BUILDER
PRICE-CUTTING BLAMED
DEFICIENCY OF £ll4 SHOWN
[from ottr own correspondent]
HAMILTON. Thursday
Losses incurred through undercutting prices in an effort to secure business was the principal cause given for his failure by William Richard Richardson, builder, of Hamilton, who was examined in bankruptcy before the official assignee, Mr. V. R„ Crowhurst, in Hamilton to-day. Debts to unsecured creditors totalling £176 were shown in the schedule. Assets were valued at £62, leaving a deficiency of £ll4. J
Bankrupt said that he lost about £2OO on some work eight years ago and since then had just been able to carry on. He had incurred practically no liabilities during the past four years and he considered that had it not been for the absence of steady work at his trade, combined with ill-health, he would have been able to pay the greater part of his debts. No offer could be made to creditors.
As there was not a quorum of creditors present the meeting lapsed.
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https://paperspast.natlib.govt.nz/newspapers/NZH19321125.2.39
Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21349, 25 November 1932, Page 9
Word Count
165LOSSES BY BUILDER New Zealand Herald, Volume LXIX, Issue 21349, 25 November 1932, Page 9
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