The Lathams shop in Caxton Road, Fulwood Pic: Blog Preston The firm behind the collapsed Lathams of Broughton bakery had debts of £1million when it was dec
Cottam Parkway back on track after wrangle over landThe firm behind the collapsed Lathams of Broughton bakery had debts of £1million when it was declared insolvent.
Documents filed with Companies House reveal the firm owed some £450,000 to HMRC alone, with £300,000 of that relating to PAYE and National Insurance Contributions and £150,000 to Corporation Tax.that the collapse was triggered by HMRC withdrawing from a repayment plan while rising costs of ingredients had also been punishing.
According to the statement of affairs filed by liquidator Annette Reeve, only around £32,000 is likely to be recovered from the firm’s assets to go towards the debts. The numbers do not include any money owed to employees, who along with HMRC would be the first in line to receive even a small percentage of what is owed.Meanwhile, a new business has begun operating from the same site on Caxton Road, Fulwood.
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