Swindon Vehicle Retailer Enters Liquidation with Major Debt Deficiency
What happened
J&M Electrobikes Ltd, which traded as Two70 Motorcycles, voluntarily wound up its business in Swindon and entered liquidation earlier this month. The company has a reported deficiency of more than £257,000, as its liabilities exceeded the estimated value of its assets. The company's assets, which included stock and workshop equipment, were estimated to realize only £7,762 for creditors.
Why it matters
Capital on Tap is facing creditor claims related to this situation. The liquidation of the debtor could lead to a debt loss or write-down for Capital on Tap, impacting its credit and funding operations.
Who's involved
- Capital on TapFinancial services company facing creditor claims
- SwindonUnitary authority area where the debtor's business is located
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Capital on TapSpeculative
Capital on Tap might face a write-down of credit or funding due to the debtor's liquidation.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.Keep exploring
The entities involved
-
Capital on Tap
Financial services company offering credit cards to small businesses in the UK and US
Nothing else this week.
-
Swindon
unitary authority area in Wiltshire, South West England