A York business owed creditors more than £1 million after going into liquidation.
We reported last month how Elcocks, the tool hire, sale and repair business, had closed after nearly 50 years of trading.
Based on Hospital Fields Road, the company was run by the third generation of the Elcock family at the time of its closure.
It was hit hard by the collapse of a major national buying group, saddling it with a large debt demand.
Directors described the closure as “an incredibly difficult decision for the family and for the team who have worked with us”.
Mike Jenkins and Dave Broadbent of Begbies Traynor have been appointed as joint liquidators.
They have now published the final statement of affairs for Elcocks.
This revealed the firm owed £1,019,333 to a total of 59 companies. It owed more than £210K to HMRC, £339.8K to Santander bank, and £209K to business finance group Funding Circle.
Various employee claims totalled £113K, and tool firm Andreas Stihl Ltd was owed £20.7K.
Elcocks had assets worth £47.1K for preferential creditors.
Mr Jenkins, a partner at Begbies Traynor in York, said: “Our focus now is on ensuring the liquidation proceeds as smoothly as possible and that creditors are kept fully informed throughout the process.”
