Shopfitters collapse owing £1M

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Saltash-based John Richards Shopfitters has gone into voluntary liquidation, owing creditors in excess of £1 million.

The company, which is the manufacturing arm of the John Richards Group, went out of business owing 260 creditors a total of £1.1 million, with ten people losing their jobs.

The company blamed a combination of “delays in contracts and very poor trading” for the collapse.

The liquidator said the majority of the firm’s debts had been incurred during the past six months.

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