A construction company has been wound up after acting in a “reprehensible manner” that left suppliers £60,000 out of pocket.
Ilford-based Nobleread Ltd, which operated two businesses called NB Construction and NB Wholesale, ordered various construction goods on credit, including building materials such as paving, insulation, roof lights and decking.
It then approached building sites or tradesmen by phone or over WhatsApp to offer the materials at a reduced price for cash.
In most cases, the Insolvency Service found the goods were shipped directly to buyers by the suppliers, with the cash payment being collected by a representative of NB Construction.
But on other occasions, the items were sent to a Nobleread warehouse in Essex, from which they were collected by a removal company, paid in cash.
Suppliers, having agreed to a credit facility with NB Wholesale, were left unpaid to the tune of more than £60,000, according to the Insolvency Service.
Both companies operated by Nobleread appear to have ceased trading at the end of last year, when their websites were taken down.
Nobleread was wound up by the High Court in September, with the Official Receiver appointed liquidator of the company.
The High Court concluded that closing down the company would be in the public interest, given its lack of cooperation, failure to deliver adequate accounting records, and objectionable trading practices.
The Insolvency Service said that the company had used identity theft to create a fake director and to apply for credit.
“Nobleread has gone about its business in a reprehensible manner and those behind it have gone to great lengths to hide their identities,” said Mark George, chief investigator at the Insolvency Service.
“Suppliers should always do due diligence on companies before agreeing any credit facilities and check the integrity of any trade references in particular.
“We will always seek to have companies wound up in such cases, in the public interest.”
The Insolvency Service said that it could not comment on its investigatory activities, but that it would pass on any evidence of criminal wrongdoing.
Wound-up firm Nobleread Ltd and its two businesses NB Construction and NB Wholesale have no connection to NB Construction (UK), based in Cambridgeshire