Creditor claims following the liquidation of Pilkington Estates Ltd, the company that previously ran the Plymouth estate agency, have now exceeded £650,000. The company entered creditors’ voluntary liquidation in August 2024, and new claims are still being submitted, according to the latest liquidators’ progress report.
HMRC has lodged a claim for £393,311. Liquidators estimate HMRC will receive 12.73p in the pound, which would leave approximately £346,000 of its claim unpaid. For unsecured creditors, initial estimates of £110,045 have grown to £265,463, with further proofs of debt still arriving. Liquidators have stated it appears unlikely a dividend will be made available to unsecured creditors.
The liquidators expect to realise around £109,000 from the company's assets, but liquidation expenses are anticipated to be approximately £65,000. The Pilkington Estates trading name continues under South West Peninsula Real Estate Ltd (SWPRE), which acquired the former company’s business and assets for £60,000 following the liquidation.
SWPRE subsequently fell into arrears on the purchase price, but a revised payment arrangement has been agreed. Liquidators received £28,500 over the past year, with the remaining balance due in November. Additionally, the liquidators are seeking to recover money from an overdrawn director’s loan account, which had a balance of over £300,000 at the time of liquidation. A £50,000 settlement was accepted, but the director, Jon Pilkington, fell three months behind on repayments. A revised payment plan has been agreed, with repayments set to restart in December and continue until May 2028.