A Saltash Company has Gone into Liquidation

Saltash-based John Richards Shopfitters on Forge Lane has gone into voluntary liquidation, owing creditors in excess of £1 million.

The company, which is the manufacturing arm of the John Richards Group, went out of business owing 260 creditors a total of £1.1 million, with ten people losing their jobs.

The company blamed a combination of ‘delays in contracts and very poor trading’ for the collapse. The liquidator said the majority of the firm’s debts had been incurred during the past six months.