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Dear Frantic,
It is obvious from your post that there are many facts about CEC group and their business dealings that you are unaware of. I do not invest in or work at the company but I know many who have worked there and other who do business with them. It is more than obvious from the mass exodus of staff (especially those in management) and the accounts that have been unpaid for years that this company has been in trouble a long time.
Staff have had wages and benefits unpaid, there are thousands of people in the north who are out of pocket. The directors seem to be too caught up in their own personal agendas to face up to the fact that they are digging themselves further into a trench of debt and are hurting more people than they are helping by continuing to stay open. The directors of this company appear to have a lot to answer for. There has been a great deal of misleading statements printed in local media and the fact that they have been unable or unwilling to release reports and financial details to investors in a timely manner over the last 3 years is proof that this company does not deserve to continue trading. A simple glance through the financial reports from the last 3 years demonstrates how dramatic their failures have been. Don't serve up some dribble about bank. If they cannot make enough money to pay bills and staff or cannot be truthful about their real financial position then it is the legal and moral thing to do to show some decency and close up shop.