Nationwide owes Â£212,120 to creditors
27-Sep-10by Annie Byrne
Defunct exhibition organiser Nationwide Publishing owed £212,120 to creditors, according to a new company statement of affairs.The organiser of exhibitions Business North West, Business Midlands, Business Yorkshire and Business West of England went into liquidation earlier in September, appointing Bristol-based insolvency firm, FA Simms.Nationwide’s goodwill, including its exhibition portfolio and websites, were acquired by Easyfairs in mid-September. However, although given a book value of £10,000, the estimated amount realised by the sale of goodwill was zero.The statement, compiled by FA Simms and signed by Nationwide MD Scott Hider, also reported the company had £5,000 in cash when it went into liquidation. After divvying the cash out to preferential creditors and paying off debts incurred by floating charges, only £1,647 remained to go towards unsecured creditors.