A DIRECTOR of a failed ladies clothing company has being banned from taking a management role of any company for five years.
Frederick Greenwood, of Burns Street, Nelson, along with Lawrence Kenwright, from Aughton, were responsible for Yes and Co Distribution going into liquidation in 2002 with debts of £1,953,000.
At an Insolvency Service hearing in March, the 65-year-old did not contest two charges of entering into transactions that were detrimental to creditors, and failing to maintain, preserve and deliver adequate accounts.
As a result, under the Company Directors Disqualification Act, Mr Greenwood is banned from being a director, or being concerned or taking part in the promotion, formation or management of a company for five years.
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