CREDITORS of Prestige want liquidators to investigate transactions by the management of the cookware company for two years before its demise.

The firm went into liquidation with debts of more than £10 million and since December has been in the hands of receiver Susan Watson.

Now Grant Thornton corporate recovery partners Malcolm Shierson and Maurice Withall have been appointed as liquidators.

Mr Shierson said: "As liquidators, this is a particularly interesting assignment in so far as the creditors have asked us to specifically investigate transactions carried out by the previous management over two years."

The statement of affairs at the date of liquidation showed the company had unsecured creditors of £14,911,000 with a deficiency owed to them of £10,091,000.

The receiver sold part of the concern to Meyer International Holdings Limited.

As well as its long-established base in Burnley, Prestige also traded from Blackburn, Derby and from premises in Singapore.

The company has been making a loss since the 1980s and blamed increased competition from foreign imports and pressure from major customers.

Other factors included re-organisation costs and redundancy packages granted by previous management.

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