Case details for MICHAEL Maggs

Name: MICHAEL Maggs

Name: Doors Warehouse Wales Limited

Date of Birth: 17 / 10 / 1965

Date Order Starts: 9 / 12 / 2024

Disqualification Length: 10 years Years 0 Month(s)

CRO Number: 08302408

Last Known Address: 8 Augusta Street, , , , PENTRE, CF41 7EW

Conduct: Mrs Allison Maggs (“Mrs Maggs”) caused or allowed Doors Warehouse Wales Limited (“Doors”) to apply for and obtain two £50,000 Bounce Back loans (“BBL”) for which Doors was not entitled as these were without consent of a previous lender as required, without repaying the previous lender as required and the second BBL was in breach of the terms and conditions of BBLs, in that- • Mrs Maggs and the co-director of Doors applied to Development Bank of Wales (“DBW”) for a £60,000 loan on 27th April 2020 which was received into the Doors bank account 1st May 2020. • By drawing down the DWB loan, under the terms and conditions the directors should have obtained prior consent from DBW before applying for any additional borrowing or equity. Mrs Maggs or the co-director did not obtain consent from DBW before applying for additional borrowing. • The Bounce Back Loan Scheme was one of a number of government-backed lending schemes designed to support businesses affected by COVID-19. Loans allowed were between £2,000 and £50,000 (up to a maximum of 25% annual turnover), for 6 years. • The co-director of Doors applied for a £50,000 Bounce Back Loan (“BBL”) on 13th May 2020, which was received into the Doors bank account 14th May 2020. • The terms and conditions of the BBL loan state that by obtaining this loan the directors declare that Doors had not obtained any other Government backed Covid financial support unless the whole of the loan would be used to refinance the original loan. The loan was not used to refinance the DBW loan. • Mrs Maggs applied for a second £50,000 BBL on 29th June 2020, which was received into the Doors bank account 30th June 2020, after the funds from DBW and the first BBL were received. Again terms and conditions for the DBW loan were not met by way of obtaining consent from DBW before applying for additional borrowing. • As part of the second BBL application it was declared that “I/We confirm that this is my/our only application for a Bounce Back Loan for this business, and I am/we are not part of a wider group which is the process of applying for or has already received a Bounce Back Loan” which was not accurate. • At the date of the liquidation on 25 May 2023, the Statement of Affairs shows that a total of £615,743 was owed to creditors, of which £122,569 was in respect of the Covid support loans. 

This information is correct as at 8 / 1 / 2025



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