Bradwell Communications has been wound-up by the High Court following an investigation that found it “lacked transparency”, following a report by the Insolvency Service.
The Leicester-based IT supplier was found to have links to Direct United (Services) and Fibre Tex which were closed down in April 2018, after investigations found a lack of transparency in their operations and that they had traded in an improper manner, resulting in both organisations incurring significant liabilities, according to the Insolvency Service.
Bradwell Communications had continued the trade and operations of both affiliated businesses, and the court ruled that its closure was in the public interest.
The investigation into its operations was frustrated by owners who “lacked transparency” and failed to produce books and records, the Insolvency Service said.
This hindered efforts to establish who controlled the company and where it was trading from, according to the report.
The company’s accounts appeared to show “significant” assets and retained profits, though investigators were unable to substantiate these accounts, nor verify transactions of around £270,000 that passed through the company’s bank account.
“Bradwell Communications and those individuals in control of it paid scant regard to their obligations and have sought to abuse the privileges that limited liability offers”, said David Hope, chief investigator for the Insolvency Service.
“This should serve as a strong warning that we will act swiftly to protect the public and business community by investigating and shutting down companies that abuse the corporate regime.”
