The Official Receiver's report to creditors shows handmade chocolate business CocoMoyo went under with debts totalling £174,521. And those owed money are unlikely to see any, as the report states "there appears to be no prospect of a distribution to creditors".

CocoMoyo's founder, 39-year-old Lisa Kennedy, originally set up in business making chocolates at Backridge Farm, Waddington, in September 2007, later moving the manufacturing operation to a unit at The Sidings, Whalley. Her CocoMoyo chocolate shop and café, in Castle Street, Clitheroe, was opened last August, but lasted just seven months before the business folded in April this year.

At the time Mrs Kennedy – who petitioned for her own bankruptcy at Blackburn County Court – blamed the economic downturn, a lack of rate relief support for small businesses and "the banks" for refusing to lend more money to support the business.

Describing it as "profitable", she even talked of expansion plans, but figures presented to creditors under The Insolvency Act tell a different story.

They show the business owed suppliers £13,130; had overdrafts of £15,000 and loans of £77,657; had run up debts of £33,471 on credit and store cards; owed £4,961 in wages, owed the Government £16,768 in unpaid taxes; and had outstanding rent and unpaid utility bills at £13,543.

Mrs Kennedy's husband, Donovan, was also adjudged bankrupt on May 13th this year.