'Strip club Climax goes into liquidation owing £55,000 in tax

Climax strip club in St Botolph's Street, Colchester, has gone into liquidation

Climax strip club in St Botolph's Street, Colchester, has gone into liquidation - Credit: GOOGLE MAPS

Climax - which marketed itself as "Colchester's raunchiest strip club" - has gone into liquidation after failing to pay a £55,000 tax bill.

Top Drawer Entertainment, which ran Climax — a strip club and late night bar in Colchester's St Botolph's street — appointed liquidators from Re10 Restructuring and Advisory towards the end of 2020.

The firm had run up debts of £68,650 with just £4,850 in assets to pay creditors.

A spokesman for the liquidators said the directors had chosen to put the company into liquidation after being unable to pay a tax bill of £55,000.

"There was a VAT assessment held by HMRC, regarding the investigation for the outstanding VAT that was not paid," he said.

"The company went into liquidation because it was not in a position to pay the debt."

The spokesman, said the company was unable to pay because of the pandemic and "VAT issues", but said they were not aware of any job losses as a result of the liquidation.

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Among the firm's other creditors were Barclays bank, which was owed £15,000, and two accountancy firms.