Former Worcester company closed owing more than £200,000

As previously reported Diglis-based SME Broker Services International went into administration in January with managing director Alex Nicholls setting up a new phoenix company SME Broker Services.

Companies House, the government's registrar of businesses, is showing the firm's status as liquidation, with documents published as part of a "statement of affairs".

Among the documents is a list of the companies creditors which reveal the firm owed a total of £220,954 to 16 different creditors.

The highest amount of money owed is £100,000 to HMRC, with a total of £44,654.51 owed to Lloyds Bank, £35,664 owed to Nationwide Building Society and £15,000 to Nationwide Corporate Finance.

Industrial and Tractor Limited in Navigation Road, Diglis, was owed £3,400, The Tything-based MFG Solicitors was owed £6,000 while Berence, a firm based in Newton Aycliffe near Middlesbrough, was owed £12,051.

Others put of pocket include Penguin Office Supplies, owed £200, Selectabase in Dover which is owed £475, and Manchester firm C&L Safety which is owed £180.

One creditor, who did not want to be named, said: "The directors have not treated their employees with much consideration.

"It is possible that they have not been very lucky with some of their customers failing due to the gas price squeeze but in business one has to make one’s luck."

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We previously reported a JustGiving page was set up entitled: "This page is set up for the employees of SME Broker Services International who have been left without their December wages on Christmas Eve".

A former broker for the firm also claimed he had to borrow money to pay bills and rent after not receiving his December wage.

We approached Alex Nicholls, the managing director, but he provided no comment before our deadline.

In a previous statement he said: "Unfortunately, SME Broker Services International Ltd faced financial troubles in December 2021 due to Covid as well as the energy crisis - energy companies make up a large proportion of our clientele, as shown on our website.

"Every staff member but one have been offered a new position at a new phoenix SME Broker Services entity.

"This is backed by an investor, meaning around 20 jobs have been saved. This is similar to what we did in January 2019."

• Alex Nicholls provided a comment after our deadline, which is available to read here