Bike Zone owner Stuart Meanwell previously said his business had run up debts trying to survive Covid, government policies and customers shopping online.
Joint liquidators Colin Wilson and Timothy Dolder, of Milton Keynes-based Opus Restructuring LLP, were appointed in January.
In their statement of affair, 24 creditors have been listed as being owed £170,368 by the St Michael’s Street-based shop.
Among those, and with the highest of debts, is the small business finance firm Funding Circle which is in London.
Oxford City Council is owed £6,833 and HMRC has claims of £6,563 for its corporation tax services, and two claims totalling £15,960 from its debt management department.
As well as this, Oxford Products which is described as a “global leader” in motorcycle and bicycle aftermarket products is owed £8,407, the accounts show.
While there are seven employee claims for preferential creditors of £3,137, there are eight unsecure claims from employees totalling £82,269.
Bike Zone also owes £6,833 for its rent in St Michael’s Street, although this is listed as an unsecured creditor meaning it’s unlikely to get it back.
The liquidators estimate a total deficiency for the shareholder Mr Meanwell of £224,075 once claims against the company have been met.
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Mr Meanwell said: “The business problems come from debts that we ran up trying to survive the Covid pandemic, changes to the local market post-Covid, government policies that have heaped extra costs onto businesses, massively increased utility bills and a gradual shift towards online buying of bikes and bike kit.
“There were some lease issues as well, but that’s too long a story to get a fair telling in a short newspaper article.”
He added: “Oxford rents are second only to the West End (of London) and all the bike shops have to go to Cowley Road.”
Bike Zone in St Michael’s Street was opened by the Lord Mayor of Oxford, Elise Benjamin, in June 2011 and housed Zappi’s Cafe run by Italian cyclist Flavio Zappi.
The cafe later expanded into the guest house next door and became The Handle Bar Cafe and Kitchen.
At the time Mr Meanwell said it was “a 20-year dream of opening a large bike shop in the historic heart of Oxford”.
He also owned Summertown Garden Centre, selling bikes alongside plants for two years before transforming the whole premises into Oxford’s other leading cycle store Summertown Cycles.
