The liquidators of Buffalo7 have revealed the Manchester presentation and design agency had debts of £652k.
Cowgill Holloway Business Recovery was appointed to handle its administration earlier this month and has just released its statement of affairs.
The largest creditor by far is HMRC Revenue and Customs, accounting for £244,128.08. Of that £63k is VAT and £180k PAYE and National Insurance.
The figures also show that the company owed employees £19,200 in wage arears and holiday pay.
Other company creditors include:
- Bruntwood Rent – £180k
- HSBC – £140k
- Manchester City Council Business Rates – £31k
- FW Capital – £16k
- Funding Circle – £12k
Smaller creditors, some running into thousands of pounds are Big Fish Media and Everything Tech.
At its peak, the Powerpoint specialist had a turnover in excess of £1.6m and was working with major brands including UEFA Champions League, Red Bull, Facebook and Samsung.
The company had offices in Manchester, Soho Square in London and plans to open in America and Asia.
On 6th February Buffalo7 appointed James Fish and Craig Johns of Cowgills in Bolton as voluntary liquidators.
