Downtime - Rod Davis

[RodDavis downtime]

Downtime at 50ft Semi Trad being built by Stillwater Narrowboats, a bit of a late start, we were due to have it in the water for June this year, then delayed to August and now November, but the steelwork has started. We will be mooring it a Cropredy Marina and there was a worry that the marina wouldn't be ready in time but not an issue now. I will post pictures and progress as it becomes available.

[Alway Swilby]

Are you afloat yet? I ask because we have a boat in build with them too (I think we are behind you) and there is not much progress.

[Alan de Enfield]

Are you not aware that they have gone bust ?

 

There is a detailed thread here :

 

http://www.canalworld.net/forums/index.php?showtopic=49752&hl= stillwater narrowboats&page=4

 

Someone who lost their money had this from the receiver

 

The information I received from the Receiver is:

 

REALISABLE VALUE

TOTAL ASSETS £0.00

TOTAL LIABILITIES £244,025.07

ESTIMATED DEFICIENCY £244,025.07

The liabilities above include issued and paid up capital of £100.00.

On the basis of the above information there appears to be no prospect of a distribution to creditors.

 

I note that the sole Director was Richard Eaton at the time of liquidation. His dad Kevin, who took our deposit and made a lot of unfilled promises, resigned before the company went under. Thank goodness we did not get sign a contract with them and only ended up loosing our deposit. A lesson in life though.