Britannia Enterprises sells ice cream van in bid to offset £600,000 debt
PUBLISHED: 16:18 22 January 2020 | UPDATED: 16:18 22 January 2020
East Anglian Motor Auctions/Archant
Britannia Enterprises is beginning to claw back funds to repay creditors having collapsed owing more than £600,000.
The social enterprise ran cafes including the Café Britannia and Guildhall Britannia but went bust in August.
Alongside running a number of venues the company also owned an ice cream truck named Claude which has now been sold at auction.
The van was sold by a finance company and will be used to offset some of the debt accumulated by the firm - which aimed to rehabilitate prisoners by getting them into the workplace.
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According to a liquidator's report, Britannia Enterprises owed more than £37,000 worth of motor vehicles in assets before its collapse.
However, it owed Norwich company Credo Asset Finance more than £45,000 for those vehicles.
As a result, even if all the vehicles are sold for their estimated value, the creditor would still be £7,870 out of pocket.
A spokesman for Credo Asset Finance said: "We are working with the director of Britannia Enterprises Ltd and we are happy with the progress we are making in recovery of our debt."
A further 48 creditors including the Ministry of Justice and HMRC are owed £574,000.
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The enterprise, run by Davina Tanner MBE, also ran Park Britannia - better known to some as the Waterloo Park café - which also shut this week.
Simon Stokes, its manager, said he had been forced the shut the doors due to an administrative issue, but added talks were ongoing and that he was receiving support from Norwich City Council.
He said he hoped to reopen as soon as possible.