FORMER RANGERS STAR'S BUSINESS FALLS VICTIM TO PANDEMIC

A pizzeria business part owned by former Rangers and Scotland star Steven Naismith has reportedly gone bust with thousands of pounds worth of debts.

Firewood Restaurants, based in Stewarton in Ayrshire, where Naismith lives, was put into liquidation earlier this month.

The company ran the popular Oven diner in the town’s Vennel Street, where staff claim they are owed unpaid wages.

It closed due to a staff Covid outbreak on July 9 and didn’t reopen – going into liquidation weeks later.

A winding-up order at Kilmarnock Sheriff Court on August 5 said the company was “unable to pay its debts”.

But, despite Firewood’s liquidation, the Oven restaurant was last week advertising for new staff on its Facebook page.

There was also a separate promotion for a new cocktail bar called the Vennel at the same address in Stewarton.

Latest accounts for the year ending January 31, 2020, showed Firewood owed around £218,000 to creditors, including bank loans, suppliers and taxes, and only had £717 in the bank.

The debt figure included about £108,000 due to directors of the business, which employed 19 staff. Assets, including fixtures and fittings and IT equipment, were valued at just £82,000.

A source said: “The figures listed in official documents were before Covid-19 led to the lengthy shutdown of bars and restaurants so the current debt figure may now be higher.

“Steven Naismith could be significantly out of pocket.”

Naismith, 34, is listed as one of four shareholders in Firewood at Companies House.

The others are Martin Boyle and Kevin Dillon, who are also directors alongside Naismith, and a John Bourne.

Oven staff were told of the restaurant’s closure and liquidation of the company at a Zoom meeting in late July attended by Boyle. They were also told the firm was unable to pay them any redundancy and they would have to apply to the Government for a payout.

It’s understood that a number of staff are due several hundred pounds in unpaid wages.

Scottish media sources can reveal that 39-year-old Boyle formed another company, MBSN, on July 7 before the collapse of Firewood. It’s listed as a restaurant/­take-away business.

He is the only director and shareholder.

Steven Naismith, who is now a coach at Hearts, declined to comment.

However a close friend said: “A few years ago Steven was approached about investing in a restaurant business in his home town. Steven agreed to invest while other parties ran the business.

“Steven has enquired to ensure that all staff will receive any money due by the end of the process and been assured this will be the case.

“The other main assets of the business are secured against personal guarantees.”

Boyle insisted that all Oven staff would be paid their wages. When asked about MBSN, he said there was nothing untoward about the move. He added: “I run several businesses. I set up another business.”

Boyle added:“Ask anyone in the town who knows me, you’ll find out the real truth.”

Dillon, 39, said he had lost about £55,000 following the collapse of the firm. He claimed to have had no involvement with Firewood since last September.

Dillon, who owned a third of the company shares, added: “That’s me out of pocket with no chance of getting my investment back. I’m a creditor and in the same boat as anyone else.

“I left the business because I didn’t like the way it was being run. It was slapdash, there were too many people involved who didn’t have ­anything to do with the company.”

The building which houses Oven is owned by Naismith. The restaurant property is worth about £350,000.

Insolvency expert Begbies Traynors in Glasgow was appointed provisional liquidator of Firewood at Kilmarnock Sheriff Court on July 23.