A bathroom business in Bury St Edmunds has gone into liquidation, leaving the government with a pandemic loan of £ 50,000.
Concept Bathrooms, which has a registered business address at 7 Chamberlayne Road in the city, appointed Wilson Field liquidators 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 rebound loan in June 2020 – the maximum amount available under the scheme.
As part of this program, the government guaranteed 100% of the loan to give businesses more flexibility to borrow money amid the pandemic.
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Other major creditors include Lloyds Bank which owes £ 14,992.78, the Severance Compensation Service which owes £ 13,334.80 and a Norwich-based property development company called Dencora 2000 which owes £ 14,699.04 .
A spokesperson for the Sheffield-based liquidators said: “Concept Bathrooms Ltd went into liquidation due to a lack of income that would allow them to repay the loans obtained in 2018/19. Coronavirus lockdowns have also had a negative impact.
“The company employed three members of staff, including the director; all three lost their jobs. At this point, the company’s creditors will not receive a dividend.