10/28/2009 11:08:00 AM
Lexus Telecom goes bankrupt owing £7.5m
London based dealer and trading company Lexus Telecom has gone into liquidation owing its creditors £7.5m.
The process of winding up the three companies, Lexus Telecom, Lexus Telecom Export and Lexus Telecommunications Limited, started at the end of September, and on 6 October, liquidators Kingston Smith and Partners LLP was appointed by the creditors.
One industry source that had worked with Lexus said: ‘We got some paperwork through the other day informing us that the company has gone bankrupt. We did some work with them and they have been in the industry for about 15 years. They had a retail presence of six or seven shops at one time.’
The official documents indicate that the company had moved into selling Sim-free handsets during its last days of trading.
Ian Mark Defty, liquidator of all three companies at Kingston Smith and Partners, said: ‘There are a lot of trade and expense creditors, and a substantial amount is owed to HM Revenue and Customs in VAT and corporation tax.’
Lexus Telecom director, Kukesh Chawda was unavailable for comment.