Michelle Mone-linked PPE Medpro wound up after being ordered to repay £148m
Scandal-hit PPE Medpro wound up with governement ‘unlikely to see’ £148m owed
- PPE Medpro, a company linked to Baroness Michelle Mone, has been formally wound up by a judge at a specialist companies court.
- The company owed the Department for Health and Social Care (DHSC) £148 million for breaching a contract to supply 25 million surgical gowns.
- PPE Medpro filed for administration on 30 September, the day before losing a High Court battle against the DHSC over the unpaid sum.
- The DHSC, as a major unsecured creditor, successfully argued for the company's liquidation, stating it was "hopelessly insolvent".
- With only around £600,000 available for unsecured creditors, the Government is unlikely to recover most of the £148 million owed by PPE Medpro.