The fit-out firm launched by former Notts County boss Alan Hardy is set to be formally liquidated.
A statement on Companies House has confirmed Paragon Interiors, which entered administration last February, will move from administration to liquidation.
Administrators were called in to Paragon Interiors last February as it came to light that contractors and staff had not been paid.
A report into the company later found it owed more than £13.5 million when it collapsed.
The full scale of Paragon's issues came to light in October.
In addition to the money the company owed, it was also owed £13.8 million by firms linked to Paragon Interiors.
This included £1.49m owed by Notts County and £7.29 million by parent company Paragon Leisure Group - money which was used to purchase the Meadow Lane club in 2017.
This was eventually settled for £1.2m.
Liquidation is the process of bringing a business to an end and distributing its assets to claimants.
It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due.
As company operations end, the remaining assets are used to pay creditors and shareholders, based on the priority of their claims.
