LIQUIDATORS have now sold all the assets of a company that ran three town centre shops.

Manchester-based firm Tomlinsons auctioned leftover stock from Princess Street stores Tissotti and Etsu last month.

"We have realised some money from that but we cannot disclose how much," said associate Jason Elliott.

Valuation company Robson Kay - which took away the stock at 3am to avoid Knutsford's congested streets - said the designer clothes would be worth about £1million.

Mr Elliott said the former Tissotti premises were no longer his company's concern.

"The shop units have been handed back to the landlords and they've had the keys back for some time," he said.

But he said the liquidation procedure was a lengthy one.

"We now have to ascertain whether there are any employee claims and we have to agree those, if there are any," he said. "We will then make any payments on a preferential basis, we will take our fee and then we will make payments to creditors."

The shops closed without warning in January after the director contacted Tomlinsons for assistance and it was decided that the company needed to be placed into liquidation.

Businessman Saeed Izadifar, who invested thousands into the shops, was unavailable for comment.

5:11pm Saturday 5th April 2008

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