The collapse of Huboo Technologies Limited under its new name Hub Realisations Limited Company number 09727464 resulted in unpaid debts for numerous suppliers and business partners as well as customers and investors. The collapse of Huboo resulted in financial losses for what specific number of companies remains unclear.
Who Was Left Owed Money?
Packaging and Warehouse Suppliers
The company depended on third-party suppliers to maintain its operational activities.
The last orders of numerous businesses remained unpaid because the suppliers did not receive payment.
Logistics and Courier Partners
The delivery services operated by Huboo never received payment for their work.
HMRC and the UK Government
Huboo accumulated £2.1 million in unpaid tax which faces a low chance of complete recovery.
Software and Technology Vendors
The company spent significant funds on its technological infrastructure yet numerous software vendors received no payment.
What Happens to These Unpaid Suppliers?
The majority of suppliers will obtain minimal or no compensation because secured creditors receive payment before them.
The financial losses from Huboo’s collapse will force numerous small suppliers to bear the burden which threatens their business stability.
Conclusion
The suppliers of Huboo became the primary victims after the company’s collapse. The financial burdens of Huboo Tech Limited have disappeared while its suppliers face difficulties in recovering their losses.
