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NB This story was posted on 15 July 2003 and is not current. The various companies owned by the group are now under new ownership and have been trading successfully since then.
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Last Wednesday (09 July 2003), Hurst Morrison Thomson (HMT), specialists in corporate
recovery, advised creditors they had been instructed to place the group and its companies, including Meriski
and The Ski Company into voluntary liquidation.
It is understood that the two companies, part of the Brown Rock
Group, suffered as a result of a particularly bad season for the
industry, which according to AC Nielsen fell by 13% on 2001/02.
Both companies acquired
It is understood that both brands will continue to run
under their own names next winter, as Meriski has been acquired
by Cirencester-based Handmade Holidays, while Descent International
have taken over The Ski Company's operations. The bars and restaurants
division of Brown Rock was sold as a going concern last month.
Staff left unpaid
Some staff were left unpaid
as a result of the liquidation. Seasonal staff were informed on
29 May that bonuses, holiday pay and lift pass deposit money would
not be paid, although pay slips had already been sent out including
these amounts. Head office staff have also not been paid since May.
Are you a creditor?
There is a meeting of creditors on 22 July. If you are an ex-member
of staff, there is a good chance you will get some money back. According
to HMT pay and holiday pay can be applied for from the National
Insurance Fund, which is not affected by any assets of the company.
A decision takes 6-8 weeks.
Lift pass deposits are a different matter. It appears these funds
were not paid into a holding account, meaning those owed lift pass
deposits are unsecured creditors. This means that any payments will
be made after secured creditors (banks Government etc.) have been
paid. At this point the rest of the assets are calculated and awarded
on a percentage scale.
If you are planning to claim you should do so immediately, so that
you are included as an unsecured creditor. If you are working or
travelling away from home and have not received forms, you should
contact HMT (01491 579 866) to get them.
Further action?
Natives understands that there are a number of staff who are campaigning
for an investigation by the DTI. They will be taking the matter
further by writing to HMT, allowing them to bring these issues up
at the creditors' meeting.
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