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WR creditors to only get 'small' reimbursement

WR Refrigeration’s creditors are set to be offered a small reimbursement as part of a notification proposal to be sent out in mid-December by administrator PwC.

Speaking to RAC magazine, Eddie Williams, joint WR administrator and director at PwC, said: “We have to give the best value to the creditors. However, besides the deal with Integral there have been no further sales of WR’s business and the offer to creditors will only be minimal.

“The company is not in a position to carry on in any capacity and therefore will be wound down. We have retained a number of staff who are helping with this process, while others have moved to work with other businesses to honour ongoing contracts.”

Mr Williams said WR owed £60m. Industry observers believe this includes inter-company debt. Integral UK, which purchased a significant portion of WR Integral and is now responsible for delivering nationwide contracts for several high-street food retailers, including Tesco, Morrisons, Co-op and Waitrose.

Readers' comments (1)

  • Has the administrator tried selling all the dinner suits worn by the WR management? That should fetch quite a bit.
    Hopefully they won't be needing them anymore, but I doubt a small thing like WR failing will prevent them from showing their faces again.

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