Two pub landlords from Cheshire have been disqualified after they abused insolvency laws to avoid paying debts, while continuing to keep their pub open.
Coard Hulse and Philip Roy Dawson ran The Saracens Head pub in Lymm, between 2006 and 2016.
But over a 10-year period, eight different companies were registered as the corporate entities to run the pub.
When one of the registered companies became insolvent, the two pub landlords would register a new company and carry on running the pub without making any significant changes to their operations.
As the new company did not take on the previous company?s debts, it meant Coard Hulse and Philip Dawson would avoid paying their creditors.
An investigation by the Insolvency Service found that Coard Hulse and Philip Dawson either were, or acted as, directors of each of the companies and most of the companies traded for one year or less before going into liquidation.
The eight companies were placed into liquidation between August 2008 and October 2016, with creditors losing out to an estimated total of ?335,000.
The disqualifications started from 27 February 2018 and prevent Coard Hulse and Philip Dawson from directly or indirectly becoming involved in the promotion, formation or management of a company until February 2025.
Robert Clarke, of the Insolvency Service, said:
The undertakings signed by Mr Hulse and Mr Dawson send a clear message to other company directors that if you fail to learn from previous company failures and run businesses where creditors lose out in this way, you will be investigated by the Insolvency Service. As a result, you will be stripped of the protection of limited liability for a lengthy period.