Cream Club Ltd, a supplier of marketing materials to estate agents, has gone into voluntary liquidation.

A meeting of the firm’s creditors was held on Monday, under the Insolvency Act.

The firm AABRS is acting as insolvency practitioner in the case.

Harshal Savla, senior insolvency administrator at AABRS, told EYE yesterday that he plans to write to creditors by the end of this week, and that his company is obliged to make a report within six months.

Cream Club Ltd bought the assets of Cabec Ltd trading as The Cream Club, of which Craig Cook was also a director, in a pre-pack administration last May.

The firm Begbies Traynor were appointed administrators in the case of Cabec.

Begbies Traynor has now issued two progress reports – the first covering the period May 5 to November 4 last year, and the second covering the period November 5 to December 24.

The first report shows that lawyers were paid £14,175.33 plus VAT for their assistance in finalising the sale agreement of Cabec as well as advising on a Retention of Title claim.

The report says that the firm, Francis Wilks & Jones, “also pursued the purchaser in respect of the payment of the deferred consideration in relation to the sale agreement which fell into arrears initially”.

Begbies Traynor say they have spent 150.8 hours on the case and that their time cost is £42,114,50, of which they have actually drawn £21,522.98.

In a statement of affairs, preferential creditors are employees, owed £151,495.

Unsecured creditors include HMRC, owed £681,000, and Cream Club Ltd, owed £64,346.