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Unsecured claims against King's Lynn's Chalcroft Ltd amount to £17 million

One of the liquidators investigating the collapse of former Lynn-basedconstruction firm Chalcroft Ltd has this week confirmed that unsecured claims submitted against the company amount to £17 million.

Investigations into the trading of the company and the conduct of its officers are still ongoing, a spokesman for Libertas Associates told the Lynn News.

Chalcroft, which had been based at Campbell's Business Park, Campbell's Meadow, went into liquidation last February with debts running into millions of pounds.

Flashback to 2019 when Lynn's H&M store was under construction. (26066722)
Flashback to 2019 when Lynn's H&M store was under construction. (26066722)

McTear Williams & Wood were appointed as liquidators of the company along with Hudson and Weir and Libertas Associates.

A Libertas spokesman told the Lynn News this week: "Unsecured claims submitted against the Company (Chalcroft Ltd) amount to £16,899,591.94.

"I have yet to adjudicate upon the same and will only do so if sufficient funds are recovered to facilitate a distribution to creditors.

"Investigations into the trading of the Company and the conduct of its officers are ongoing. I do not propose to illuminate further on this at the present time as to do so may prejudice the likelihood and/or quantum of any recoveries sought."

At the time when Chalcroft went into liquidation a document seen by the Lynn News, suggested that up to 70 people were employed by the company and were owed more than £500,000 between them.

It also indicated the company had total liabilities worth more than £12 million.

Of that, nearly half, around £5.7 million, appeared to be owed to what were described as “unsecured” trade creditors.

The company specialised in commercial construction and was the main contractor for the flagship H&M store in Lynn's Vancouver Quarter.

However measures were put in place to ensure the building continued on the store which opened in November.

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