Updated - Gregg Wallace and the Mysterious Bounce Back Loan His Company Seemingly Wasn’t Eligible For - Will Rachel Reeves be Alerting the Covid Corruption Commissioner, or is There an Innocent Explanation?

Update on this story >
I have been informed that an “error” was made on the Company Accounts for ShowMe.Fit and the Bounce Back Loan was removed, as it was actually a BBL for another Company Mr Wallace is a Director of, that being Lobster Enterprises LTD which got the BBL which has now been repaid in full.

As long as that firm was adversely affected by coronavirus and fitted all the criteria, that is the mystery solved…..

Original Story >

As I occasionally do, when a celebrity is in the headlines, I set about looking into what Gregg Wallace has been up to in the business world.

For whilst a lot of people cannot stand him and are outraged at the allegations that have been laid at his feet, there are many people who quite like him and believe he is being hounded.

Anyway, you are old enough and big enough to have your own opinions on him one way or the other, but as I dedicate most of my time to helping people who are having problems with their Bounce Back Loans, I was curious to see if any of Gregg’s companies have had one.

A quick check on the accounts for his ShowMe.Fit company show that his business did get a Bounce Back Loan, and there is no shame in that, over one a half million businesses did get a Bounce Back Loan, this is what his published accounts show:

However, what has been puzzling me is that it was on the 29th of May 2020 that company was incorporated, and one of the main terms and conditions of the BBL Scheme was that a business had to have been trading on or before March the 1^st 2020 to qualify for a Bounce Back Loan:

Part of the Rules Included:

So how could a brand new company set up at the end of May 2020 get a Bounce Back Loan, when it had to have been carrying on business on the 1st of March 2020 and been adversely affected by coronavirus?

Who knows, maybe that new Covid Corruption Commissioner, Tom Hayhoe will be heading around to Gregg’s for a chat, or there could there be an innocent explanation?

Updated – Gregg Wallace and the Mysterious Bounce Back Loan His Company Seemingly Wasn’t Eligible For – Will Rachel Reeves be Alerting the Covid Corruption Commissioner, or is There an Innocent Explanation?

BBL Helpline

Part of the Rules Included:

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Subscriber Special – The Complete Procedure to Be Followed If You Are Now in a Position Whereby You Cannot Afford to Repay Your Bounce Back Loan – Its Quick and Simple, and as Long as You “Play the Game” Alongside Your Lender Who Is Also “Playing the Game” You Will Be Fine

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Watch Your Backs

Take a Look at the Letter You’ll Be Sent If the Department for Business and Trade / Insolvency Service Have Nosied at Your Company/Bank Accounts and Suspect You’ve Over-Egged Your Turnover to Get a BBL, and the Questionnaire You Have to Fill in That Will Determine Your Punishment

After a Few Setbacks and Delays, Judge Briggs Orders the Winding Up of a Slew of Limited Companies Lloyds Bank and Bank of Scotland Presented to Court That They Suspected or Knew Blagged Them Out of a Bounce Back Loan – Will Your Company Be Next?

HMRC, Cabinet Office and the Department of Business and Trade Have Now Flagged Bounce Back Loan Recipients Whose Actual Turnover Didn’t Match Their BBL Application and/or LTD Companies Who Were Not Registered for VAT But Declared a BBL Turnover Figure That Required VAT Registration