Thank you for your interest in this story
To continue reading this article, subscribe to the Stray Ferret for as little as £1 a week
Already a subscriber? Log in here.
14
Apr 2023
Ex-staff at failed Harrogate firm CNG set to receive £43,000
Former staff at CNG Group look set to receive £43,200 in claims against the failed Harrogate firm.
CNG, which employed about 145 staff, blamed spiralling wholesale gas and electricity prices for going out of business in 2021.
Administrators Interpath Advisory has published a progress report, which was uploaded on the Companies House website this week, for the period from September 2 last year to March 1.
It said staff — classed as ordinary preferential claimants — claimed £43,200 for arrears of wages up to a maximum of £800 a week, accrued holiday pay and pension benefits.
The report by joint administrators Timothy Bateson and Christopher Pole added:
Administrators paid £635 an hour
The report also revealed Interpath is being paid £635 an hour for handling the administration. It said:
Interpath's final fee by the time administration is due to end on March 1 next year is expected to be £298,759.
Preferential creditors are expected to be paid in full, the report said, and "it is likely that the unsecured creditors will receive a dividend" although the amount is unknown.
The timing of payments is also unclear.
The report described the company's primary assets as "inter-company debtor balances and investments in others groups".
These are expected to generate "significant realisations" but the administrators added:
0