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Harrogate business goes into liquidation owing more than £500,000

A Harrogate business has entered voluntary liquidation with an estimated shortfall to creditors of more than £577,000.

Yorkshire Exhibition Solutions Ltd, which was registered at 23 Victoria Avenue, Harrogate, has been wound up following a vote to place the company into voluntary liquidation.

The company, incorporated in December 2018, provided exhibition-related services and had been trading for around seven years.

Leeds-based Clough Corporate Solutions was subsequently appointed to handle the liquidation.

Companies House records list Robert James Wilcock and Jemma Louise Wilcock as directors of Yorkshire Exhibition Solutions Ltd.

More than £577,000 owed

Figures relating to the liquidation show substantial sums owed to creditors.

Among the amounts listed are:

• Unsecured creditors: £187,724
• HMRC: £152,259
• Clydesdale Bank: £24,817
• Accountancy fees: £6,192
• Virgin Money: £4,166

The estimated deficiency to creditors is stated as £577,486.

With issued share capital of just £110, the company’s overall estimated deficit stands at approximately £577,591.

What happens to businesses left out of pocket?

The impact of a company failure can extend well beyond the business being liquidated.

For local suppliers and other companies owed money, an unpaid invoice can create its own cash flow pressures — particularly when significant sums are involved.

In a liquidation, creditors are paid according to a legal order of priority, meaning some unsecured creditors may recover only part of what they are owed, or potentially nothing at all, depending on the assets available.

The case highlights the wider knock-on effect that business insolvencies can have on suppliers, contractors and other companies across the local economy.

For more information, go to https://caseboard.io/cases/64b47672-5991-4c30-ac61-da79234b9896#:~:text=Yorkshire%20Exhibition%20Solutions%20Ltd,Companies and https://find-and-update.company-information.service.gov.uk/company/11714716