Lights cascade into darkness for market trader

London, 25 March/GNN/ -- INSOLVENCY SERVICE News Release (Ins/ Coms 73) issued by The Government News Network on 25 March 2008 A Manchester-based company which obtained goods on credit by providing

Cascade (North West) Limited carried on business as a seller of lighting and
fancy goods from market stalls. In making credit applications to suppliers the
company misrepresented its relationships with the trade referees it put forward
and provided a false name as a company contact, something which was designed
to disguise the participation of a disqualified director in the company's
management. The company did not pay a number of suppliers and had frustrated
attempts made by them to secure the return of the goods they had supplied.

NOTES TO EDITORS

1. The registered office of Cascade (North West) Limited is at Unit 9 Astra
Business Park, Guinness Road, Trafford Park, Manchester M17 1SU. The company
traded from Bolton Market Hall and Manchester Arndale market.

2. The petition to wind up the company in the public interest was presented
on 29 January 2008 under s124A of the Insolvency Act 1986. The Official
Receiver was appointed as provisional liquidator of the company on 6 February
2008. The company went into compulsory liquidation on 18 March 2008.

3. The Insolvency Service carries out confidential enquiries on behalf of
the Secretary of State for Business, Enterprise & Regulatory Reform through
Companies Investigation Branch.

4. The Insolvency Service administers the insolvency regime investigating
all compulsory liquidations and individual insolvencies (bankruptcies)
through the Official Receiver to establish why they became insolvent. The
Service also authorises and regulates the insolvency profession; deals
with disqualification of directors in corporate failures; assesses and pays
statutory entitlement to redundancy payments when an employer cannot or will
not pay employees; provides banking and investment services for bankruptcy
and liquidation estate funds; and advises ministers and other government
departments on insolvency law and practice.

5. All public enquiries concerning the affairs of the companies should
be made to: The Official Receiver, Public Interest Unit, PO Box 326, 17-21
Chorlton Street, Manchester, M60 3ZZ. Tele: 0161 934 4182
Email: piu.north@insolvency.gsi.gov.uk

6. Further information about the work of The Insolvency Service is available
from www.insolvency.gov.uk

7. Media Enquiries should be directed to: Lorna Dennis, Communications
Manager, Insolvency Service, 21 Bloomsbury Street, London, WC1B 3QW.
Telephone: 020 7637 6279.

Press Notice

Source: Insolvency Service

2008-03-25 09:48:47 0319597 PRNEWSWIRE