AN EDINBURGH based makeup academy dedicated to training makeup artists has gone into liquidation after their books show they spent more than they earned.
Glamcandy, based on William Street, Edinburgh was a technical and vocational secondary education centre focused on teaching makeup techniques.
The academy has entered compulsory liquidation after their books revealed costs far exceeding profits, with the academy now expected to be closed down for good.
The company is undergoing compulsory liquidation after it was declared bankrupt, Begbies Traynor Group will oversee the liquidation process.
A local insolvency practitioner Begbies Traynor Group is based mere minutes away from Glamcandy on Lochrin Place.
Former Director Hayley Harvey-Smith, 40 resigned from Glamcandy on December 1, 2023, with the company’s compulsory liquidation coming into effect just a year later on December 30, 2024.
Hayley had previously won over £50,000 in compensation after being fired for taking too many holidays while in charge of the company.
The jet setting entrepreneur was assigned 25 days leave as standard but spent an entire month in Bali and Australia, she claimed she worked for most of these holidays.
Earning a whopping £220,000 a year Hayley claimed that she could take leave ‘as and when she desired’ because she put in extra hours.
She won her tribunal case and was awarded the £50,000 last year after an employment tribunal found that her holidays were working trips, and her dismissal was a ‘sham redundancy’.
New company director and former bookkeeper Mark Thomson, 50, claimed if she was a ‘true employee’ she would have been disciplined for, “the manner in which she took annual leave or worked from abroad.”
Hayley formed the company with her sister in 2011 going on to take full control before stepping down from her role as director in December 2023 after the company began experiencing financial distress.
After this she sold her shares in the company but continued to work for the business in a senior position, Hayley is now involved with other businesses.
A Sheriff Court Order for winding up, to force the company to cease trading, was issued to the company on January 13 in the wake of their bankruptcy.
The company’s accounts show that they had been having financial problems since 2023, owing debtors large sums of cash with their costs outweighing their profits.
