STEVEN BROWN’S art empire is facing insolvency after allegedly failing to pay creditors and racking up unpaid bills to suppliers.

The Ayr Advertiser understands that the company has been trading insolvent for some time and now risks been sold off to an investor.

It’s understood that creditors were owed up to £1million, with a supplier also owed in the region of £750k.

Shocked staff were told on Monday that the business was not making any money, and is likely to go into receivership, meaning creditors will seek to recover funds borrowed. 

A source has told the Advertiser how staff arrived for work to find desks cleared, and informed that wages owed will not be paid.

They said: “They are trading insolvent and they owe creditors a huge sum of money. What will happen is they will sell the IP (intellectual property), get a new company in and they can trade the business and basically shaft everyone else.

“They haven’t told the staff any of this. There’s a fan page that seems to know more than the staff.”

The Ayr Advertiser has approached Steven Brown for a comment and he is yet to respond.