Sheffield cupcake firm Fancie has gone into voluntary liquidation .
A creditors’ meeting yesterday heard the firm had debts totalling £185,000.
Founder Amanda Perry, who started the business in her kitchen, has set up a new company called FC& Co Limited which is currently occupying former Fancie premises on Ecclesall Road, Sharrowvale Road and in the Winter Garden.
The Star understands no staff jobs have been lost.
Fancie closed its Meadowhall store in May and a five-figure rates demand from the centre was a factor in the liquidation.
The business is in the hands of joint liquidators Adrian Graham and Julian Pitts at Sheffield business recovery and rescue specialists Begbies Traynor.
“It is very unfortunate such a popular local business has had to go into liquidation,” said Mr Graham.
“It seems the Meadowhall unit was a drain on the company’s finances and its debts include a five figure rates demand for the outlet there.
“Fancie also suffered from increased competition, leading to cash flow problems.”
Begbies Traynor is investigating Fancie Limited’s financial situation, including its leases and assets.
Mr Graham said the position for creditors was ‘uncertain until all assets have been realised’ but they would be informed in due course.
Fancie’s debts included £136,000 owed to creditors, £14,000 of bank debt and £35,000 to HM Revenue & Customs.
There were no staff employed by the company at the time of its liquidation.
Amanda Perry said: “It is very sad that after all our hard work we have been unable to continue trading Fancie Limited despite closing the Meadowhall outlet.
“We would like to thank our loyal customers for their support over four years.”