Steven Pitterson, former owner of Tyldesley-based Gainsborough Partitions, has been banned for acting as a company director for 10 years due to a false bounce back loan scheme.
Pitterson applied for a loan worth £50,000 using “overstated turnover figures he knew or ought to have known to be incorrect which resulted in Gainsborough Partitions obtaining a loan that was more than it was entitled to.”
Pitterson was entitled to apply for a bounce back loan worth 25% of the business’s overall turnover, a figure which the company owner self-certified at £214,000 for the calendar year.
But accounts show that “on a pro-rata basis”, the actual turnover figure for the 2019 calendar year was £107,462, roughly half the stated…