AUGUST TRADE NEWS Bad weather blamed for shopping centre delay Chester council  not supporting retailers New rules 'won't help save retail centre' Irish shoppers look abroad for bargains British consumers spend more on beauty products Yorkshire town gets behind plastic bag reduction scheme Rising obesity prompts calls for VAT rule changes eBay restructures fee scheme to make fixed-priced sales cheaper Online sales boom despite slowdown Music retailer goes out of business Matalan named and shamed for how it treats wholesalers BCC slams higher parking charges proposals Booming wholesaler moves to new warehouse Market traders told to only 'shout quietly' London's retailers show growth despite gloom Counterfeit goods dealer sentenced to prison UK's smallest town protests supermarket plan More retailers and wholesalers going out of business Online retail sector predicted to expand rapidly Henley retailers protest development plans Retail sales continue to slow Tiffany appeals US court's eBay ruling Report criticises electricity suppliers' treatment of small businesses MK retailers protest Tesco expansion plan Yorkshire retailers protest supermarket move Manchester wholesaler shut down over fraud worries Businesses welcome plans to reduce red tape Rate hold accepted by small businesses Internet sales put pressure on the high street Huge counterfeit goods haul in Somerset Irish entrepreneur online retail plans Wholesaler sector set to struggle Staycations could help British retailers Retailers 'gloomy' about economic outlook Retailers report footfall continues to decline as consumers cut back Hidden door reveals huge counterfeiting operation in Manchester shop No recession for the UK this year East London wholesaler goes into receivership London mayor reveals plans to support small retailers Toy retailers defy gloom Retailers urged to embrace online sales Trade News Archive August 08 July 08 June 08 May 08 April 08 March 08 February 08 January 08 Subscribe to our newsletter   Go to The Wholesaler UK Directory 8th August 2008 Manchester wholesaler shut down over fraud worries A Manchester-based company that claimed to operate a wholesale business in the city has been wound up amid fears that it was a front for illegal activities. The high court ordered that the wholesaler, which operated under the name Nu Genesis Trading, should be wound up following an undercover investigation by the companies investigation branch (CIB) of the Insolvency Service. It was found that the supposed wholesaler, which had registered a business address in the Cheetham area of Manchester, had filed suspicious financial statements at Companies House. It claimed that these were produced by an accountancy firm that the CIB were unable to trace. What's more, the wholesaler had made a number of applications for credit using false information. It had also managed to obtained goods on credit to a value of £35,000. When the team approached the company, it was found that it had been abandoned by its owners. As a result, the judge ordered that Nu Genesis Trading should be closed down permanently. A statement from the Insolvency Service explained: "The court heard that there was a real concern that the company was incorporated, or may have been used, as a vehicle for fraud and that, if the company remained on the register, there was a danger that it may, in the future, be resurrected as a vehicle for fraud."   (c) 2008 Adfero Ltd. Sponsor of August Trade News Pioneer TV Brackets   Comment on this news story To comment on any story please click on the above link, put the story title in the subject line and please provide your name, trading style ie. retailer or wholesaler and the town where you trade.