Asco Stores, the Warrington retailer that aimed to take on the multiples, is unlikely to trade again in the grocery sector.
It emerged this week that MD Dave Laney had left the company. He told The Grocer that he had "parted company" with Asco Stores owner Ted Ward, who was disqualified as a director in March.
The revelation comes in the wake of Asco Stores Ltd's winding up two weeks ago following a petition by signage company Evolve Group for unpaid debts of more than £25,000.
A number of suppliers said they were owed money. One claimed Asco owed him £3,000 plus VAT. Another said: "We've chased it, we've been to the store, but everyone has gone to ground."
Asco's problem, added one, was that it was "neither one thing nor another". The concept was interesting, said another, but "difficult to do with the backing they had".
The company had planned to open stores in towns including Formby, Newcastle-under-Lyme, Huntingdon and Doncaster, but deals were never confirmed. It was now planning to open a furniture store called Ellies, claimed a source.
Asco pleads for second chance from suppliers (15 May 2010)
Asco closes store while suppliers wait for cash (24 April 2010)
Asco plans expansion despite £26k bill claim (10 April 2010)