Pisani plc, the Matlock headquartered stone merchant that went into administration in June, reportedly owed almost £8m to creditors.
Derbyshire plc Wound Up by Companies Court
Pisani’s directors had previously posted an increase in turnover of 78%, equivalent to £729,000. Pisani’s directors had hoped they had turned the firm around by the increased turnover because there was a previous loss of £1.2m.
However, despite performing above expectations in the first quarter of 2017, Pisani’s directors appointed Deloitte as administrators. This was due to being uncertain of the effects of Brexit and being faced with a winding-up petiton from HMRC.
It is reported that Pisani owed around £550,000 to HMRC when it entered administration.
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