A FORMER Radcliffe firm has been wound up by the High Court in Manchester after an inquiry by the Company Investigation Branch of the Insolvency Service.

Hourglass Design Ltd, incorporated in January 2007, was involved in "support publishing", purporting to sell advertising space in a safety awareness and advice journal by cold-calling small businesses.

Hourglass's last registered office was in Middleton but was previously at Okehampton Close in Radcliffe.

The investigation by Company Investigation Branch (CIB) found that, in 305 instances, advertisers paid for advertisements which were not then subsequently published by the company.

The court found that: Hourglass was merely a continuation of other businesses closed down in the public interest; the sole director of the company had little knowledge of its business or day-to-day operation.

The CIB also discovered that the accounting records of the company's financial procedures were inadequate.

CIB have warned businesses to remain wary of anyone cold-calling, asking potential customers to place adverts in wallplanners, diaries, children's fund books and drug awareness books, magazines for emergency services personnel guides or other publications.



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