Choccywoccydoodah went bust owing £600k
Choccywoccydoodah went bust owing almost £600,000 to staff, customers, landlords and the taxman, new documents show.
A total of 44 customers have now come forward to say they are owed almost £20,000 in lost deposits – and its 24 staff are even more out of pocket.
The chocolatier shut its Brighton shop and Hove studios on 9 May, weeks after its Covent Garden store closed.
Administrators Quantuma were appointed when the business went into voluntary liquidation, and said this was due to a “challenging trading environment, increased costs and declining margins”.
Now its statement of affairs, filed with Companies House this month, shows it closed owing £595,549 to a string of creditors.
These debts include £19,736 to 44 customers who have come forward, £120,770 to Revenue and Customs, £68,594 to its Brighton and Covent Garden landlords, £10,309 in business rates and £53,105 to suppliers.
But the biggest amount owed is to its 26 employees, who are owed not just £36,903.11 in salary arrears and holiday pay, but also £157,321 in lost notice and redundancy pay.
Some of the independent local suppliers left out of pocket include Brighton Paper Round (£2,008), Bardeli Supplies (£1,305), Cavalier of Sussex (£1,770), Elite Frozen Foods (£284.64), HB Ingredients (£4,445), H2O Linen Services (£3,080) and Premier Fruits (£743.66).
The statement says its assets include a Volvo and a Mini, but after financing is paid off these are only worth £3,000.
It also has fixtures, fittings and equipment worth £12,531 and stock worth £25,000 but it’s uncertain how much these will actually realise.
The only other assets are goodwill and intellectual property, which are listed as having an uncertain value.
Director Christine Taylor is also listed as being £32,000 out of pocket, and the company was overdrawn with NatWest by £96,000.
LIKE WHAT WE DO? HELP US TO DO MORE OF IT BY DONATING HERE.
And don't forget to sign up to our email newsletter, bringing you the week's biggest stories every Thursday.
Well they’ve rather gone down in flames, haven’t they?
Is that all you can say? Sounds You are happy about it.
why on earth are you replying to a comment from 2 years ago?
Wake up Lydia.
What a shame loved that programme,the staff were so clever.Christine in charge of expenses was always going on about yo much money being spent.l hope some of the staff open their own shop they have great talent.
I am so sad they have gone. Accountant Christine went on all the time about the money being spent. When they changed their window displays each season, I often wondered if they sold the chocolate masterpieces or just dumped them. I am not surprised they are in debt. I will miss them.
I’m in Australia, I’m sitting here watching an old episode of the show, it’s Christmas and they’ve just acquired another shop…they are behind the scenes discussions about serious money problems. I’ve just now read this post about the business going into liquidation, it’s so sad but also predictable.
I hope all those very clever staff members have got great jobs again.
So sad, I loved all the creations they made.
Well, I only just started watching the series this year and am amazed at that amount of money spent, feel so sorry for the accountant who had to balance the books. So tonight, watching her expand to London, and seeing the worry about money, the first thing I thought was ‘they aren’t going to make it”. Sad, risk is one thing, but I felt it was more about looking good for TV, and all show, than good business. One of the cakes even looked burned. So I researched, only to find they went into liquidation. Shame…….
Chris was very generous to charity at the expense of caring for the amazing talented artisans that were the true “Stars” that gave Choccy the reputation she craved.
My family are heading from Australia to the UK in May this year & was planning to visit the shop. It’s a real shame we won’t be able to spend up in the shop. We all loved the creations made.