Case details for Arnold MAYOR

Name: Arnold MAYOR

Name: AMI Sofas 4U Ltd ›

Date of Birth: 7 / 5 / 1965

Date Order Starts: 25 / 12 / 2024

Disqualification Length: 12 Years 0 Month(s)

CRO Number: 08952360

Last Known Address: 2 Derby Street, , , , Blackburn, BB1 5HR

Conduct: 1) On 15 July 2020, Mr Mayor caused AMI to act in contravention of the BBL Scheme by applying for a second BBL (“BBL 2”) from (“Bank B”) when prohibited from doing so and despite having already applied for and received BBL 1. • The terms of the BBL issued by the British Business Bank state that borrowers are required to declare, amongst other things, that the business (and any wider group of which it is part) is not already in the process of applying for or has not already received a BBL Scheme facility • Having already applied for BBL 1 on 24 June 2020 (received 25 June 2020), on 15 July 2020, Mr Mayor applied to Bank B for BBL 2 of £50,000 • BBL 2 of £50,000 was paid into AMI’s new account on the same day the application was made • A BBL of £50,000 required a turnover of at least £200,000 • Company accounts for the financial years ended 31 March 2019 and 31 March 2020 disclose turnover of £172,142 and £133,581 respectively. • The application for BBL 2 was a direct contravention of the BBL Scheme’s Terms and Conditions. • Between 17 July 2020 and 03 August 2020 Mr Mayor received £21,000 of BBL 2 and has failed to provide any explanation along with evidence as to how the funds were utilised, or other BBL funds which were paid to third parties between 16 July 2020 and 14 September 2020. • Mr Mayor failed to disclose BBL 2 liability to the Liquidator and omitted it from the Statement of Affairs, which was accompanied by a statement of truth signed by Mr Mayor on 19 May 2022. • AMI went into Creditors Voluntary Liquidation on 26 May 2022, with BBL 1 and BBL 2 outstanding. 2) Mr Mayor failed to ensure that AMI maintained and/or preserved adequate accounting records in the period after 31 March 2020 or, in the alternative, failed to deliver up records to explain AMI’s financial affairs. • Mr Mayor stated that prior to the receipt of BBL 1 and BBL 2, AMI’s business was transacted through his personal account. • Mr Mayor failed to produce any records in the liquidation proceedings, hence it is not possible to establish: ? The full income and expenditure of the company after 31 March 2020; ? Whether the Statement of Affairs produced in the Liquidation is a true representation of AMI’s asset and liability position; ? Whether the proceeds of BBL 1 and BBL 2 were utilised for the economic benefit of AMI; ? Whether any monies were due to AMI when it ceased to trade; ? Whether all monies received by AMI in the relevant period, have been properly accounted for. 

This information is correct as at 6 / 1 / 2025



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