The PPE company linked to Island resident and Tory peer Michelle Mone has just £666,000 in assets.
PPE Medpro is being sued by the UK government for £134 million over medical gowns it supplied to the UK's Department of Health and Social Care during the pandemic.
The government claims they weren't sterile or fit for purpose - the company denies the allegations.
The firm's latest accounts show it's spent £4.3 million defending the High Court claim.
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