Receiving only 38p for every pound owed following liquidation

Wallace & Co was located on the Upper Richmond Road and closed in 2014 owing creditors £150,000 having failed to be the success the TV presenter Gregg Wallace expected.

The liquidators had hoped that creditors would receive 47 pence for every pound owed but announced that they will receive only 38 pence.

The payout totals £57,000 which means that there is £93,000 unpaid. In addition the Masterchef presenter was owed £293,000.

The restaurant was the third business owned by Mr Wallace to close; he had already closed his Bermondsey eatery 'Gregg's Bar & Grill' and his vegetable business Secretts Direct.


March 26, 2015