North East events management firm Hen and Stag has been liquidated after falling victim to the coronavirus pandemic.
Based in Gateshead, the firm organised fun-filled activities for party-goers in cities across the UK, negotiating deals with leisure firms get access to city nightspots on stag and hen weekends.
However, the firm has now ceased trading, citing the pandemic for triggering its collapse.
A notice on the firm’s website now reads: “We are closed. Thank you for visiting our website. We regret to advise that due to the impact of Covid-19, Stag and Hen Ltd (trading as Hen and stag) has ceased to trade.
“Begbies Traynor, licensed insolvency practitioners, have been instructed to instigate insolvency proceedings. Please could all lead bookers contact Begbies Traynor.
“Hen and Stag wish to thank all our customers for their support and appreciate your understanding during these difficult times.”
The company’s founder enlisted liquidators at the start of August, giving notice that the company be wound up voluntarily. A statement of affairs document for the firm reveals the firm collapsed with debts of £429,165 and just £23,367 is available for unsecured creditors.
It had £35,000 in the bank as estimated assets for preferential creditors when it collapsed.
A breakdown of unsecured, non-preferential claims shows £350,567 is claimed by trade creditors, £1,451 by employees, £18,966 by the redundancy payments office, £66,899 by banks and institutions and £14,549 by HMRC.
Company creditors include Barclaycard, which is owed £15,791 and Funding Circle, owed £30,783.
