The business behind Newcastle city centre cocktail bar and restaurant Okana went into liquidation owing more than £1.4m to creditors - including more than £24,000 to former staff, new documents reveal.
Cyclone (Newcastle) Limited ran the bar in the old Union Rooms building until it closed amidst the pandemic with the loss of 33 jobs. Documents from liquidators at North East firm FRP show the loss making business owed £24,534 to staff in pay and pension contributions, though part of that sum could be covered by the firm's assets, leaving £15,614 still owed.
Cyclone, which was owned by businessman Kevin Pattison, also owed hundreds of thousands to lenders, the council, HMRC and local suppliers. A statement of affairs report filed at Companies House reveals the business owed £225,572 to the tax man, and other major creditors included finance business Asset Advantage, which it owed £117,595 and Newcastle City Council, which it owed £115,688.
