The company behind Newcastle cocktail bar and kitchen Okana went into liquidation owing more than £1.4m to creditors - including its former staff.
Cyclone (Newcastle) Limited ran the city centre venue - which had employed 33 people - which is reported to have been loss-making before it closed owing to difficulties during the pandemic.
Liquidators from North East insolvency specialists FRP were appointed to the business following its closure and now a report shows the business had assets of just £8,920 but owed hundreds of thousands to lenders, Newcastle City Council and HMRC, among other creditors.
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Cyclone also 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.
A statement of affairs reveals the business owed significant sums to major creditors including £117,595 to asset finance business Asset Advantage, as well as £225,572 to HMRC and £115,688 to Newcastle City Council.
Other smaller amounts of £23,529 were owed to major drinks supplier Molson Coors, and £32,575 to brewers Marstons. Durham-based real estate firm URN Management Limited was left without £212,644.
Elsewhere, North Shields' firm PWS Building and Joinery Ltd was left £12,000 out of pocket, while restaurant bookings platform Quandoo was owed £11,575.
Okana is linked to another failed Newcastle food and drink business Lorenzo North East Ltd, which ran the Casa San Lorenzo restaurant on Gosforth High Street until it was bought by out of administration by new owners earlier this month, saving 15 jobs.
Kevin Pattison was a director of both Cyclone (Newcastle) Limited and Lorenzo North East Ltd. The latter went into administration owing £1.5m to creditors. Within the liquidators' statement of affairs for Cyclone Mr Pattison is listed as a creditor, owed £231,941, while Cyclone minority shareholder Susan Walker, was owed £199,977.
