A company which previously operated Plymouth estate agency Pilkington Estates is expected to leave more than £600,000 of debts unpaid following its collapse two years ago.
Pilkington Estates Ltd entered creditors’ voluntary liquidation in August 2024, when it operated two Plymouth branches, employed 12 people and had a portfolio of almost 300 properties.
According to a new liquidator’s report obtained by Plymouth Live, HM Revenue & Customs has submitted a claim for £393,311.
HMRC is expected to receive 12.73p in the pound, leaving around £346,000 unpaid, while other creditor claims have risen to £265,463 with further claims potentially still to come.
BUSINESS SOLD
Plymouth Live reports that the company’s assets are expected to realise around £109,000, although approximately £65,000 is expected to be absorbed by liquidation costs.
Following the collapse, the business and assets were acquired for £60,000 by South West Peninsula Real Estate Ltd (SWPRE), which continues to trade under the Pilkington Estates name.
The liquidators report that SWPRE subsequently fell into arrears on payments relating to the acquisition and a revised payment plan has been agreed.
The current Pilkington Estates business is therefore distinct from Pilkington Estates Ltd, the company in liquidation.
DIRECTOR’S LOAN
Plymouth Live also reports that liquidators agreed a £50,000 settlement relating to an overdrawn director’s loan account involving sole director Jon Pilkington.
The latest report says Pilkington has fallen three months behind with repayments, with a revised arrangement now agreed.
When the original company collapsed in 2024, Pilkington attributed its financial difficulties partly to the impact of the pandemic and subsequent challenging trading conditions.
