Wouldn't Face Facts Print E-mail
West Cumberland Times - Saturday, Nov. 15, 1930
 
WOULDN'T FACE FACTS
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    When Thomas Wm. RIDGE, lately carrying  on business as a confectioner, at
143, John Street, Workington , was examined in  bankruptcy at Workington on
Tuesday, it was suggested by the Official Receiver,  Mr. T. B. HARSTON, that
his position had been aggravated by his refusal to face  bare facts and
continuing to trade long after he became convinced of his  insolvency.
 
    RIDGE, an ex miner, failed with  deficiency of  £392, and admitted that
in 1929 he was losing money. He  started well, but business fell off, and in
1927-28 his gross profit on a  turnover of  £856 was only  £42. He agreed that
he should have ceased  trading long before he did and he realised his
insolvency at Christmas,  1928.
 
    The Official Receiver drew debtor's  attention to the fact that the book
keeping stopped at the beginning of this  year. Debtor replied "I was losing
money and getting disgusted with things, not  knowing which way to turn."
 
    The examination was closed.
 
 
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