Bury St Edmunds bathroom store in liquidation owing nearly £140k
- Credit: GOOGLE MAPS
A Bury St Edmunds bathroom business has gone into liquidation, leaving the government on the hook for a £50,000 pandemic loan.
Concept Bathrooms, which has a registered trading address at 7 Chamberlayne Road in the town, appointed liquidators from Wilson Field on May 20.
According to documents filed with Companies House, when the company went into liquidation it owed £139,574.21.
The largest creditor is Barclays Bank which provided the company with a £50,000 coronavirus bounce back loan in June 2020 — the maximum amount available under the scheme.
Under the scheme, the government guaranteed 100% of the loan to give businesses more flexibility to borrow money mid-pandemic.
You may also want to watch:
Other significant creditors include Lloyds bank which is owed £14,992.78, the redundancy payment service which is owed £13,334.80 and a Norwich-based property development firm called Dencora 2000 which is owed £14,699.04.
A spokesman for the Sheffield-based liquidators said: “Concept Bathrooms Ltd entered liquidation due to a lack of income that would allow them to repay loans obtained in 2018/19. Coronavirus-related lockdowns also had a detrimental impact.
- 1 Ipswich Town face fight to keep young midfielder Gibbs with rivals Norwich among interested clubs
- 2 Inside quirky off-grid houseboat with stunning river views - yours for £500k
- 3 Ipswich Town transfer rumour: Portsmouth 'fend off' Blues to agree Stockley deal
- 4 'Spooky' bushes full of caterpillars spotted near Suffolk roads
- 5 Woman seriously injured in accident on major Ipswich road
- 6 If your surname is on this list you could be sitting on a fortune
- 7 Ipswich Town transfer rumour: Blues 'consider £350k bid' for keeper
- 8 'Absolutely the right manager for this football club' - Ashton backs Cook to turn Town around
- 9 Cyclist hurt in crash with car
- 10 Comedian Jack Whitehall visits Suffolk's 'most incredible' Wilderness Reserve
"The company employed three staff members, including the director; all three have lost their jobs. At this point, the company’s creditors will not receive a dividend.”