The Internet Business Pages Ltd created a business directory and
sold seven franchises which conferred on the purchaser the right to
sell advertising space on the directory.
The Insolvency Service's Companies Investigation Branch (CIB)
investigated the company, which had not filed accounts or annual
returns at Companies House.
The CIB found that IBP's activities had earned it £238,000 from
seven franchisees between August 2003 and May 2005. IBP abandoned
its trading premises but even after that made £43,993 in standing
orders. After the office abandonment £18,500 was withdrawn from
cash machines from the company bank account.
The company had filed an Application for Striking Off which The
Insolvency Service found contained false or misleading information,
and it lodged a petition to wind up the company in the public
interest late last year.
