A POPULAR party supplies business that called in liquidators early in the pandemic has been officially dissolved.

Long-established Peeks in Christchurch stopped trading in March 2020 with the loss of 25 jobs.

Peeks began in 1946 and sold partyware online, by mail order and from its shop in Reid Street.

Liquidators said the business had been “significantly affected” by Brexit when the hospitality trade cut back on non-essential purchases.

Peeks began cost-cutting and downsizing in January 2020 but was banking on a boost from the Euro 2020 football championships and the Olympics, both of which were postponed because of the pandemic. Events to mark the 75th anniversary of VE Day that year were cancelled.

Portland Business Recovery – now Portland Leonard Curtis – was brought in to wind up the business. It said at the time: “With the uncertainty of when pubs and hotels would reopen and with costs cut as far as they could be, it became clear to the directors that they were unable to continue as they simply did not have the funds to see the pandemic through.”

Staff, who were made redundant while on furlough, submitted a claim to an employment tribunal, claiming they were not properly consulted.

Liquidators reported that they were told it was not cost effective to defend the case.

The assets of Peeks of Bournemouth Limited fetched £74,400 at auction.

Its records suggested £68,000 was owed to the business, with its director estimating that £54,000 could be recovered.

However, with many of the debtor companies closed because of the pandemic, and others querying the amount owed, the total collected amounted to £34,300.

Director John Peek settled the business’s debt to Lloyds Bank. There was no money available for him and fellow director Nicholas Peek, both of whom had a claim over the business’s assets.

There was no money for 14 trade creditors, while several finance companies collected their goods from the Reid Street premises.

Portland Leonard Curtis gave notice on April 22 that the business’s affairs had been fully wound up. A notice published at Companies House said it was dissolved on September 28.