Samuel Cooke & Co in administration

Samuel Cooke & Co chairman and owner, Frank Carroll
Frank Carroll, chairman and owner of Samuel Cooke & Co
Burnley based fuel distributor Samuel Cooke & Co went into administration in late July.
The company’s staff were informed on 23 July that the majority of the 86 jobs had been lost as a result, although 12 were retained to assist the administrators.
Some customer dealings are now being investigated by the police, although no further details are currently available.
Administrator Paul Flint said: “The business suffered an unexpected loss in relation to a specific group of customers that impaired asset value and, as a result, placed the business under a significant cash strain.
“The directors reported this position to the police, and it remains under investigation.”
“Regrettably, despite the best attempts of the directors to recover from the situation, they have been unable to find a solvent solution to allow the businesses to continue to trade.”
A statement on the company’s website read: “Paul Flint and Brian Green were appointed joint administrators of Samuel Cooke & Co Limited on July 23 2012. The company has ceased to trade with immediate effect and the assets of the company are being earmarked for sale.”