Inverness Sheriff Court has received a “winding up” petition for Gellions Pubs Ltd. It states that the company is “unable to pay its debts” and that an interim liquidator should be appointed to “safeguard the interests” of its creditors.
But yesterday landlord Rory Munro remained defiant and said that it would be “business as usual” for the Bridge Street watering hole, and that “there will be a restructuring of the business”.
He added: “There is definitely no threat of closure”.
The notice was sent by petitioner agents Stronachs LLP solicitors, and intimated by the sheriff court on July 13.
A statement of facts in the notice reads that the liabilities of the company are estimated at £189,825 and that there is a deficiency of £142,230. The company’s assets are estimated at £47,595.
It also states that the company has a share capital of 100, divided into 100 shares of £1 each, of which 100 have been issued and are fully paid.
The sheriff ordered the company, or anyone interested, to lodge answers to why the petition should not be granted to the sheriff clerk within eight days of this intimation.
But the notice from the petitioners states: “The petitioners crave the court… on resuming consideration hereof with or without answers, to order that the said Gellions Bars Ltd, be wound up by the court order under the provisions of the Insolvency Act 1986”.
The petitioners have also asked for an interim liquidator to be appointed, suggesting an Aberdeen charted accountant called Alexander Fraser.
Under this statement of facts, the notice reads: “The company is unable to pay its debts. In the circumstances it is in the interests of the creditors and contributories that a liquidator should be appointed to safeguard the interests of all concerned”.
The Gellions pub was established in 1841 and is located in the very centre of the city on Bridge Street.
In the past it has hosted the world’s worst poet, William Topaz McGonagall, who recited his works to the Heather Blend Club.