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 Man dies following stabbing in Bury St Edmunds
- 2 Public services hub and leisure centre, costing up to £132m, to happen in phases
- 3 Man found guilty of importing child-like sex doll from Hong Kong
- 4 'Human swan' to fly over Suffolk during 3,000-mile UK flight
- 5 8 things to do in Suffolk this weekend despite the weather
- 6 Teenager arrested in connection with Bury St Edmunds stabbing
- 7 Heart-warming donation left in memory of baby boy Noah
- 8 A&E under pressure as patient levels return to pre-pandemic levels
- 9 Suffolk Covid rates rising but 'little or no increase' in hospital admissions
- 10 Lloyds announces closure of Suffolk branch leaving town with just one bank
"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.”