One of the most well-known Watford-based businesses, with five stores in the town, appears to be at risk.
Wenzel’s the Bakers, which is headquartered in Tolpits Lane, has played down any concerns despite confirming that it is the subject of a winding-up notice.
A winding-up petition can be issued to take a company to court if it cannot pay its debts and, if successful, company assets can be sold to pay creditors – also known as compulsory liquidation.
This process could potentially lead to closures for its more than 100 branches if it goes to court.
A Wenzel’s spokesperson said: “The winding-up notice is in relation to ongoing discussions with HMRC regarding an outstanding balance, however, we are actively engaged with HMRC and expect this matter to be resolved shortly.
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“We do not expect any redundancies, we do not expect any store closures.”
Branches in and around Watford include a bakery at Vicarage Road Stadium, two branches in Watford High Street, and two St Albans Road stores, as well as those Kings Langley, Bushey Heath, South Oxhey and Rickmansworth.
A HMRC spokesperson said: “We take a supportive approach to dealing with customers who have tax debts and only file winding-up petitions once we’ve exhausted all other options, in order to protect taxpayers’ money.”
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