Creditors Left With Nothing After Hartlepool Motor Repair Firm’s £113,000 Collapse into Liquidation..
Motor Repair Firm Collapses Owing £113,000 — With No Assets Listed to Repay Creditors...
12th November 2026
A vehicle repair company on the outskirts of Hartlepool has gone into liquidation owing more than £113,000 to its creditors, with financial documents revealing no assets are expected to generate money to repay its creditors.
Lido Enterprises Limited’s (Trading as Lido Garage) located between Hartlepool & Blackhall in County Durham issued a statement of affairs putting its debts at around £113,000, including more than £83,000 reported to have been owed to HM Revenue and Customs, with a number of local motor vehicle Suppliers, Durham County Council and other businesses also featuring among those said to have been owed money.
The company entered creditors’ voluntary liquidation late least month with Ian James Royle and David Adam Broadbent, of BTG Begbies Traynor (Central) LLP, appointed as joint liquidators.
The statement of affairs, dated 19th October and signed by its then director Philip Corrigan, laid bare the scale of the firms financial shortfall, where its claimed no assets are entered in its asset schedule, & the estimated amount available for preferential creditors recorded as nil.
HMRC is said to be by far the largest creditor, with the company said to have owed £76,499 in VAT, £2,140 in PAYE and National Insurance, and a further £4,756 in corporation tax —giving a combined tax bill of £83,395, accounting for almost three-quarters of all the money owed.
The remaining liabilities included £29,139 owed to trade creditors and £487 categorised as debts to banks or institutions.
One of the largest individual sums said to have been listed is £21,000 owed to motor parts firm General Traffic Limited, with Durham County Council owed £3,000 in business rates and £343 for trade waste, while HB Vitals Ltd is listed as being owed £3,041, with the creditor schedule containing 15 entries, including separate claims for the different taxes owed to HMRC.
For struggling small businesses still waiting to be paid, the figures make bleak reading. With no asset realisations anticipated in the statement, & no identified pot of money from which to meet the outstanding debts meaning a number of local firms will be left having to write off the sums they're owed as bad debts.
Although the filing reveals the financial position as the company headed into liquidation, it failed to explain the trading circumstances that led to its failure, however, its claimed HMRC has of late been taking a more firmer stance on businesses failing to repay sums owed to it, with the number of businesses being liquidated with HMRC being the primary creditor increasing as the taxman begins a purge on businesses failing to pay what's owed..
