The collapse of Huboo Technologies Limited (now Hub Realisations Limited Company number 09727464) resulted in millions of unpaid debts remaining outstanding. The businesses which had outstanding debts with Huboo or lost inventory or maintained contracts with the company face what consequences?
Who Lost the Most When Huboo Went Under?
Unsecured Creditors
Huboo Technologies Limited (now Hub Realisations Limited Company number 09727464) had outstanding debts amounting to millions of pounds with its suppliers and partners and logistics firms.
The majority of unsecured creditors will receive no payment since secured creditors receive priority in payment.
Customers Who Paid for Services They Never Received
The collapse of Huboo occurred while numerous businesses had active fulfilment orders in progress.
These payments won’t be refunded, since they are classified as unsecured debts.
HMRC and Tax Authorities
The company owed HMRC £2.1 million in unpaid tax.
The UK government faces limited chances of recovering the entire amount of debt.
Employees Facing Unpaid Wages
The December 2024 payroll of Huboo remained partially unpaid until the company entered administration.
The government provided salary compensation to some workers but others remained unpaid until they received assistance.
Will Huboo Tech Limited Pay These Debts?
No—since it’s a legally separate entity, it has no obligation to pay Huboo’s debts.
The creditors along with customers will probably never receive their money back.
Conclusion
Huboo’s creditors will experience substantial financial losses while Huboo Tech Limited becomes debt-free. Should insolvency laws be changed to prevent this kind of outcome?
