A LOCAL recycling business has escaped bankruptcy after its owner reached a last minute deal to pay the taxman almost £200,000 in arrears.
Liquidation papers were served on 60 North Recycling last month after the Lerwick company failed to pay outstanding VAT and corporation tax.
Owner Charlie Barton confirmed on Tuesday that he had reached a pay back agreement with HM Revenue & Customs.
Barton, who also runs a scrap metal business in Kirkwall, said it was business as usual at his Rova Head base.
“Things are working as normal. Everybody we owe money will be paid every last penny and we are continuing to trade,” he said.
The petition lodged with the court stated that the company owed £169,897.39 in VAT and £26,642.75 in corporation tax.
60 North Recycling was founded by Ian Kinniburgh following a management buyout in 2001, taking over the waste management assets of SOES Ltd.
Ten years later the company was sold to Lancaster-based businessman Charles Barton.
Become a supporter of Shetland News
Shetland News is asking its many readers to consider start paying for their dose of the latest local news delivered straight to their PC, tablet or mobile phone.
Journalism comes at a price and because that price is not being paid in today’s rapidly changing media world, most publishers - national and local - struggle financially despite very healthy audience figures.
Most online publishers have started charging for access to their websites, others have chosen a different route. Shetland News currently has over 440 supporters who are all making small voluntary financial contributions. All funds go towards covering our cost and improving the service further.
Your contribution will ensure Shetland News can: -
- Bring you the headlines as they happen;
- Stay editorially independent;
- Give a voice to the community;
- Grow site traffic further;
- Research and publish more in-depth news, including more Shetland Lives features.
If you appreciate what we do and feel strongly about impartial local journalism, then please become a supporter of Shetland News by either making a single payment or monthly subscription.
Support us from as little as £3 per month – it only takes a minute to sign up. Thank you.Support Shetland News