Application To Wind Up Other Two White’s Stores
In a public notice today [Aug 14], Bermuda’s major food importer, Butterfield & Vallis, have applied to wind-up White’s at Haywards Ltd and White’s at Southside Ltd.
The two shops are part of the group that included White’s Supermarket at Warwick which was ordered into liquidation on Friday 10th August 2012.
The shelves of both stores have been noticeably bare in recent months, and speculation had been swirling about the fate of the stores. The business employed 85 people in total, and it is understood all staff at the Warwick location were laid off.
The petitions to the Supreme Court are numbered #269 for White’s at Haywards and #270 for White’s at Southside. The Supreme Court will decide on the two Butterfield & Vallis petitions on 31st August 2012.
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- Liquidation Sale At White’s Starts Tomorrow | Bernews.com | August 14, 2012
Under Bermuda law, aren’t the Directors personally liable for debts incurred while knowingly operating an insolvent company?
How can they continue incurring staff costs, utility bills etc when they can’t pay their current bills and have little to no inventory to sell in order to generate any revenue?
We wish the owners and staff members all the best in this terrible and unfortunate time.