Creditors of a company accused of targeting the elderly are not likely to get any of their money back, it was revealed today.

Midland Coating Company, which allegedly persuaded pensioners to sign contracts for thousands of pounds, has virtually no assets - and debts of more than £300,000, according to the Bradford insolvency practitioners preparing for a creditors' meeting tomorrow.

And Bradford South MP Gerry Sutcliffe will be asking for an inquiry into the way some businesses are started and then closed down.

The T&A has highlighted the company a number of times after angry readers complained their elderly parents were persuaded to sign contracts for repair and treatment work to the outside walls of their home.

On some occasions the elderly people were then threatened with legal action when they tried to cancel the contracts.

And some ex-employees claimed they were sacked for no reason after only a few weeks so the company could avoid paying them wages and commission on sales they had made.

Leeds-based Midland Coating has repeatedly denied all the accusations.

Len Hall, partner in the insolvency practitioner firm Rushtons, said more creditors had come forward since the T&A revealed the company had ceased trading.

"There are about 60 creditors now, in addition to about a dozen ex-employees who either haven't been paid at all or haven't received their last month of wages," he said.

"I haven't worked out the exact figure for the debts yet but it will be in excess of £300,000 and I am not expecting any great assets - I would rather think they will be negligible.

"The only people who have got any chance of being paid anything are the ex-employees who might well get some money from the Department of Employment under the Employment Rights Act.

"I would still like to hear from any traders, customers or ex-employees who believe they are creditors."

Mr Hall can be contacted on Bradford 732828.

At tomorrow's meeting, which starts at 11.30 am at the Quality Victoria Hotel in Bradford, a wind-up resolution will be passed and a liquidator appointed.

Mr Hall said the company was also being investigated by Customs and Excise over VAT returns and by the Department of Trade and Industry's Companies Investigation Branch.

Mr Sutcliffe said: "The practices of some companies cause concern in relation to the high pressure selling techniques employed with elderly people, employment and the amount of debts clocked up.''

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