Bury St Edmunds bathroom store in liquidation owing nearly £140k
Bury St Edmunds-based Concept Bathrooms has gone into liquidations owing £139,574.21. - 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.
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.
Most Read
- 1 A12 reopens after air ambulance called to three-lorry crash
- 2 Suffolk campsite named among the best in the UK by the Guardian
- 3 Weather warning for Suffolk as thunderstorms expected to affect travel
- 4 'Like a Halloween scene' - huge caterpillar webs engulf hedges
- 5 Town take up option on Tyreece Simpson... plus two other youngsters update
- 6 Suffolk celebrates! Full list of county's 185 street parties for the Queen's jubilee
- 7 Police release picture of man after dog walker threatened in Sudbury
- 8 River turns white after limestone powder spillage
- 9 New curator appointed at Suffolk tourist attraction
- 10 Man admits sex offences against children dating back to 2005
"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.”
