A LANCASTER business couple have been banned from acting as company directors after their companies collapsed owing more than £700,000.

Husband and wife team, Clive Mitchell and Janet Reade, of Watermill House, Dolphinholme, were disqualified at Liverpool District Registry of the High Court for seven and five years respectively. The two companies involved, Mitchell Freight Services Ltd, Walkden, Greater Manchester, and Tyne Packaging Services Ltd, Tyne and Wear, both went into receivership in 1993.

Following an investigation by the official receiver the court found that in the case of both companies, Mr Mitchell and Ms Reade had carried on trading although there was no reasonable prospect of paying creditors. They also failed to pay VAT and paid themselves excessive salaries and other benefits including expensive company cars. The order from the court prevents the couple from becoming directors for or taking part in forming or promoting any company for as long as the order lasts. Two other directors involved with Mitchell Freight Services Ltd and Tyne Packaging Services Ltd were also disqualified.

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