RADIO DEALER'S FAILURE
BUSINESS AT HAMILTON [from our own correspondent] HAMILTON. Thursday Debts totalling £438, and assets valued at £l6, were shown in the schedule of James Trench McNicol, radio dealer, Hamilton, who has filed his petition in bankruptcy. A meeting of creditors was convoned for to-day, but there was no quorum, and no resolutions were passed. In a written statement bankrupt said bo commenced business in Hamilton in December, as a music dealer. He ,had £4O of hig own, and his father lent him £l5O. The business showed profits for the first three years. Ho then extended his business to embrace radio sales and opened premises in Victoria Street.
He remained there for 18 months, and when he left he owed £9O for rent and £2OO to unsecured creditors. He went to cheaper premises, but was unable to make headway. Bankrupt attributed his position to the high rent he had to pay for 18 months, to keen competition, and to the depression.
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New Zealand Herald, Volume LXXI, Issue 21845, 6 July 1934, Page 16
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163RADIO DEALER'S FAILURE New Zealand Herald, Volume LXXI, Issue 21845, 6 July 1934, Page 16
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