Closed restaurant is to go into liquidation

Liquidators at Newcastle under Lyme-based Currie Young Ltd have been appointed to put the company into creditors voluntary liquidation.

- WILLIAM TELFORD

PLYMOUTH’S Jolly Jacks restaurant is to go into liquidation and the company wound up after having shut suddenly.

This process is where directors formally close an insolvent business voluntarily, often in the face of creditor pressure. A resolution to wind up Jolly Jacks Ltd was passed on November 17.

The award-winning Mayflower Marina restaurant shut on October 28, with owner Sue Robson blaming staff shortages, reduced takings and rising food and utility bills for driving it out of business. She insisted staff will be paid money owed and said she was confident the business was salvageable and new owners could re-employ workers.

However, the company is now to be liquidated, which means it cannot be bought. But assets such as stock and goodwill can be bought.