Carlisle convenience store chain enters liquidation with £1m assets

Summarised from 2 outlets · Updated 19 Oct, 20:14 · Archive

Five Carlisle convenience stores operated by Firstprobe Limited have closed after almost 40 years, with the company entering liquidation but expected to pay all creditors in full.

Firstprobe Limited, which operated five Foreways convenience stores across Carlisle under the Premier brand, has entered liquidation following the closures announced in August. The independently operated business had served communities for almost four decades.

Newly filed documents reveal substantial assets. The company's property portfolio, covering the five former trading premises on Wigton Road, Bedford Road, Blackwell Road, Newlaithes Avenue and Warwick Road, plus a sixth residential rental property, is estimated at £1 million. Motor vehicles are expected to realise a further £5,000, bringing total assets to approximately £1,005,000.

Despite significant liabilities, creditors are expected to recover everything they are owed. The company's statement of affairs, filed with Companies House on 15 October and dated 21 September, forecasts a surplus of more than £137,000 after accounting for listed liabilities. Holly Wood, restructuring and insolvency senior at Armstrong Watson, the Carlisle-based firm handling the liquidation, stated: 'Based on the statement of affairs, we are expecting all creditors to be paid in full.'

Liabilities include employee claims totalling approximately £318,700, £250,000 owed to HM Revenue and Customs, and loans owed to two directors totalling £246,564.

Carlisle convenience store chain enters liquidation with £1m assets — Image: NW Evening Mail

Comments (0)

How it is being reported

Liquidation of longstanding retail chain reveals £1m property portfolioThe company behind the Carlisle Foreways convenience stores has entered liquidation, with a £1m property portfolio and creditors expected to be paid in full.NW Evening Mail · 19 Oct, 19:32
Liquidation of longstanding retail chain reveals £1m property portfolioThe company behind the Carlisle Foreways convenience stores has entered liquidation, with a £1m property portfolio and creditors expected to be paid in full.Cumberland News · 19 Oct, 12:00

In this story: Firstprobe Limited · Foreways · Carlisle · Armstrong Watson · HM Revenue and Customs

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem