Administration period comes to end
A company appointed to manage bankrupt family business Bunting and Sons has applied to end its administration.
Richard Hawes and Dominic Wong, of London based insolvency experts Deloitte, were called in to manage the financial health of the business in October, 2013.
Yesterday, they issued the final progress report after applying to formally bring the administration to a close.
The period of administration, due to end in October, was extended by sixth months to allow them to realise residual assets and make a final distribution to the secure creditors.
The nearly 200-year-old business spanning seven generations, which was based near Colchester, included Thrift Barns and Farmhouse in Nayland and Carter’s Vineyards in Boxted.
Once the administrators took over in 2013, they continued trading until April before selling off the company’s assets for £6.3million.
Bunting and Sons had proposed to build a multi-million pound visitor centre at its Horkesley Park site, sparking concern about a major development in the open countryside.
The company applied to develop 117 acres of land off the A134 at Great Horkesley, building a visitor centre which would include a county park and Suffolk Punch breeding centre.
The scheme was rejected by Colchester Borough Council in February 2013 – a decision the company appealed but lost in April last year when an inspector upheld the original judgement.
The partners have reportedly blamed the protracted planning battle at Horkesley Park for the company’s financial downfall.