Creditors prepare claims as Thierry's goes into administration

20 December, 2012

Thierry's has been placed into administration.

The company, which was established by Thierry Cabanne in 1981, was sold ináOctober to investment firm KKVMS.

Sidcup-based Abbot Fielding has been appointed to handle the administrationáand creditors may have to wait up to two months to discover whether theyáwill recoup any cash.

Thierry's former managing director Hatim Dungarwalla said he could notácomment on the size of the debt. He told OLN: "The administrators haveáwritten to all creditors and they are now waiting for the creditors toásubmit their claims. The administrator is currently preparing his report,áwhich is expected to be ready in about two months."

KKVMS head RichardáBaizley told OLN last month that it was prepared to negotiate with suppliersáleft out of pocket by Thierry's, but that KKVMS had "no moral obligation" toárepay debts. á

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