Bury St Edmunds bathroom store in liquidation owing nearly £140k

Bury St Edmunds-based Concept Bathrooms has gone into liquidations owing £139,574.21.

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.  

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.

Most Read

"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.”

Become a supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Become a Supporter