Hollywood, who set up the Kent-based Paul Hollywood Artisan Bread LLP company in June 2007, owes £31,384 to third parties and £28,616 to himself, it has been reported.
The TV baker announced he would close his artisan bakery last year, as his television commitments prevented him from spending enough time there.
‘Huge headache and a massive problem’
“It’s a huge headache and a massive problem because I wasn’t there enough,” he said in the past.
He set up the bakery after being inspired by the baking techniques he saw while traveling in Cyprus, Egypt and Jordan.
The company has struggled previously and worked up debts of £11,793 for the year ending June 30, 2012.
Hollywood also closed a previous business, Hollywood Bread, after making a loss of £262,000. The company was liquidated in 2005.
However, Hollywood is currently experiencing success with his firm Paul Hollywood Ltd, which has assets of £728,735 and £409,730 on the books.
Kingston Smith is handling the liquidation of Hollywood Artisan Bread LLP. The company itself declined to comment on the planned closure.