Scary Stuff About Greenwich Inc
I’ve just been sent a link to a feature in Propel magazine that certainly makes it seem as though Greenwich Inc probably deserve to sit on the Inland Revenue’s naughty step. If you can’t click through to the link from this, go to www.propelinfonews.com, check the archives and search ‘Greenwich Inc’ – you’ll find the piece dated 31 Jan 2014.
Basically it would seem that, seeing the empire going down in flames, INC incorporated a number of new companies in Scotland to hand over the healthy businesses to (i.e. the pubs and restaurants not losing money) without any payment to Greenwich Inc. This meant that when the liquidator came in, he was only seeing the failing businesses, the others having been already hived off. Trouble was, this was done so close to the actual failure that it actually looks extremely dodgy and it’s all a bit of a mess.
When the liquidator looked at the figures Greenwich Inc owed HMRC £3,920,502 in VAT and £2,108,696 in PAYE. The staff had not been paid for their work in November – something they were, apparently, ‘not unaccustomed to.’ It doesn’t help that INC went for advice about the potential insolvency well over a year ago and despite the advice to call in the liquidator, continued to trade for over twelve months, which I’m told is an offence.
It’s all beginning to stink – and I don’t just mean the mouse droppings and raw sewage found in the sinks at the Trafalgar Tavern last March, for which the company was fined nearly £20,000.