Cream creditors raise their concerns

FORMER employees of Cream Worldwide have vowed to make their voices heard at a meeting to decide the St Ives company’s future.

FORMER employees of Cream Worldwide have vowed to make their voices heard at a meeting to decide the St Ives company’s future.

The web marketing company has debts of more than �725,000 owes more than �130,000 to former employees, according to its creditors list.

A group of ex-employees owed money met at the weekend to compile a list of concerns they have over a proposal which would see them repaid around a third of their debt in instalments over five years.

They will put their queries to insolvency experts Wilson Field at a meeting in Peterborough on Thursday, which they hope will also be attended by Cream Worldwide managing director Craig Cook.

A spokesman for the employees, who want to remain anonymous until Thursday, said: “We are now clear about what we want to find out at the CVA hearing.

“We have a list of 15 or 20 questions that we want to put to the directors, and in particular Craig Cook, after having examined the list of creditors and the cashflow forecast.

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“We’ve said before that we don’t expect to get our money back even if the CVA is approved, and nothing we discussed at the weekend has changed our minds, so we will vote against it.

“However, we believe other creditors will vote for it and it is likely to go through.

“If it does go ahead, we will encourage Wilson Field to conduct a thorough audit of Cream Worldwide, as we feel angry that the company has accrued these debts.”

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