West Mid Show bosses are to hold an emergency meeting next week in a bid to save the historic show from going bust.

A move to put the Shropshire and West Midlands Agricultural Society into liquidation failed yesterday, as talks were adjourned amid claims from members that they did not have the correct information to proceed and wanted to explore alternatives which could see the show continue.

The society owes around £260,000 to nearly 80 creditors, including around £70,000 to HSBC Bank, which will reclaim £62,000 from the society’s stocks and shares, and around £13,000 in VAT.

Around 15 members of the society who attended a meeting in Birmingham yesterday voted to adjourn proceedings to January 7 to consider whether liquidation proceedings should continue.

An emergency meeting of the show’s council will take place next week when a possible plan to save the show is expected to be put forward by society member Roy Dodd, husband of show chairman Annie Home-Dodd, who successfully proposed yesterday’s meeting be adjourned.

Creditors

Creditors who had attended were told the company was still trading, although creditors can now apply to the courts to formally wind up the society legally in a bid to force it into liquidation.

Society chairman Neale Sadler said he wanted to see the show continue but had previously believed creditors would not support a Company Voluntary Arrangement, which would allow the society to continue to trade.

However the show is not expected to have any income which would allow debts to be paid for several months.

Mr Sadler, chairman of the show society, said: “I think there has always been a will for the show to carry on, but it’s a really tough undertaking to rescue it.

“If all the creditors are willing to put aside what they are owed for the time being and initially we can get the society back up and running and the showground is still a viable venue, then there is potential for a show in the future.”

The decision not to go ahead with liquidation promoted the immediate resignation of treasurer Keith Winter.

Mr Winter said he did not want to resign, but professionally had no other option as he could not be seen to be trading a company which was insolvent.

“I was asked whether I support the CVA, but it’s not a matter of that. I hope it succeeds but I have my doubts. The creditors appear to be willing to take the chance that they get something rather than nothing, they have nothing to lose.”

By Business Editor Amy Bould