A NEW indoor shopping attraction has closed at short notice, leaving more than 100 stall-holders locked out.

The Emporium opened less than three weeks ago in the former Mostyn’s curtain factory in Bridge Street, Christchurch.

But the business became insolvent after its two directors had a “falling out” and it has stopped trading.

The business opened on April 18, bringing together arts and crafts businesses in a “village fete-style” atmosphere. It was opened without planning permission, leaving Christchurch councillors to consider a retrospective application.

Gemma Laurent, partner with Bournemouth-based insolvency adviser Mark Liddle Partnership, said a “falling out between the directors” had led to the rent going unpaid.

“The business is insolvent. It can’t pay its debts when they fall due,” she said.

“It has not been trading long, but there has been a dispute between the directors.”

The two directors involved in the dispute were 50-50 shareholders in the business.

“We have been instructed by one of the directors, Leslay-Ann Simmons. She’s unable to make any decision to instruct us to put the business into liquidation without the consent of the other director. You need 75 per cent of shareholders to agree,” she said.

“She has asked us to try to find a resolution.”

The insolvency advisers would be aiming to contact the other director, Simon O’Sullivan, to see whether the business could resume trading or would have to fold.

Ms Laurent said the company employed two full-time staff and there were 117 stall-holders. “The company took all the sales proceeds and then paid out to each trader based on a commission,” she said.

She understood the business was a week in arrears paying the stall holders.

An angry group of traders were outside the Emporium yesterday. One swore at a Daily Echo reporter and threatened to smash his camera.