Creditors of Premier Network Group have been contacted by an insolvency practitioner to appoint a liquidator for the network.
The meeting is due to be held at the EWS head offices in Leicestershire on May 20, once Premier Network Group shareholders have passed a resolution to wind up the company.
This news further compounds figures from The Insolvency Service reveal that there were 1,579 compulsory liquidations, which increased 43.6 per cent from 1,100 year on year, and 3,362 creditors voluntary liquidations which soared 62.5 per cent from 2,068 in the first quarter of last year.
A Liquidation committee may also be formed made up of between three and five creditors to monitor the progress of the company liquidation.
Voting rights will be attributed according to the sums creditors are owed.
Appointed representatives that are not part of limited companies who are owed commission by PNG can vote if they are attend the meeting and bring a statement of their claim, or nominate somebody else to attend on their behalf.