BANKRUPT PUBLICAN
' HIGH RENT AND EFFECT OF DEPRESSION. (Per United Press Association.) Christchurch, March 23. ‘The prospects for unsecured creditors . are very bleak indeed,” stated the Official Assignee when a deficiency of £5OOO and assets valued at under £lOO were shown in the bankrupt estate of George Sidney James, hotelkeeper of Lyttelton at a meeting of his creditors to-day. The meeting being in fairly general agreement that the economic depression ' was the main cause of bankrupt’s failure, passed a motion recommending the assignee to facilitate his discharge. Bankrupt attributed his failure to paying an excessive rent and to declining business which had decreased from £ll5 a week in 1930 to £O5 in 1931 and to £4B in 1932.
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https://paperspast.natlib.govt.nz/newspapers/ST19320326.2.120
Bibliographic details
Southland Times, Issue 21662, 26 March 1932, Page 19
Word Count
118BANKRUPT PUBLICAN Southland Times, Issue 21662, 26 March 1932, Page 19
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