Creditors await FBBM outcome
04 April, 2008
Creditors of the Fabulous Bakin' Boys Manufacturing (FBBM) are still in limbo, waiting to see if they will get any of the money owed from the collapsed firm.
Fabulous Bakin' Boys Manu-facturing went into administration last December with debts of £3.4 million. Administrators BDO Stoy Hayward (BDO) then sold the business and assets to Whitney Cake Company. Bank debts were paid immediately, but unsecured creditors have yet to find out whether they will get a penny of what they are owed.Creditors have approved a plan to pass the company to liqui-dators by May. One - who asked not to be identified - said creditors are pushing for this to happen as soon as possible. BDO has indicated creditors may be paid a dividend, but this will not be confirmed until liquidators are appointed.l Whitney Cake Company has the same directors and shareholders as Fabulous Bakin' Boys Ltd, which traded from the same premises as FBBM, but is an entirely separate firm with different directors and shareholders.