The PPE company linked to Island residents Michelle Mone and Doug Barrowman has been put into liquidation.
PPE Medpro owes the UK's health department around £148 million and another £39 million to the UK taxman according to court documents.
Yesterday the Department of Health and Social Care applied at the High Court for the firm to be wound up describing it as "obviously and very significantly insolvent".
The company went into administration in September before a court case found it had supplied unsuitable medical gowns during the pandemic.
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