Former Manchester United star Ryan Giggs' restaurant has gone into liquidation with debts of £563,600, according to reports.
George's Dining Room and Bar in Worsley, Greater Manchester, closed suddenly last month.
The establishment, which opened in 2014, was officially liquidated on March 7 when RKB Ventures Ltd, the company set up to run the business, was wound up.
The restaurant had cited "unforeseen circumstances" when it abruptly shut its doors in February.
Staff were reportedly shocked by the closure, with one saying it "came totally out of the blue", according to The Sun.
According to the last set of accounts for the business, the debts included £129,357 owed to traders.
A further £75,616 was due in taxes.
The restaurant also had £44,095 in bank loans and overdrafts outstanding.
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The venue had been a fixture in the Worsley dining scene since Giggs and his partners established it in 2014.
When announcing the closure, management sent text messages to staff explaining they had "no alternative but to close George's effective immediately".
The message blamed "the obvious reduction in trade and business against the huge increases in costs of operating the business and the ongoing cost of living crisis".
Giggs, 51, opened the restaurant with his old school friends Kelvin Gregory and Bernie Taylor.
The trio had known each other for 30 years before launching the venture together in 2014.
At the time, Giggs explained their motivation: "We're all local lads and have lived in this area all our lives so we wanted to do something in Worsley and we think we've got a really different offering for the area."
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The restaurant's opening was attended by several former Manchester United stars including Bryan Robson, Nicky Butt and Gary Neville.
Giggs is currently director of football at Salford City.
One staff member expressed their shock, saying: "We were all supposed to be working today and then we got the text messages through, we are all stunned."
The sudden nature of the closure left employees with no warning.
The text message cited the "obvious reduction in trade and business" alongside "huge increases in costs of operating the business and the ongoing cost of living crisis" as reasons for the immediate shutdown.
Beyond his restaurant venture, Giggs has diversified his business interests since retiring from football.
He is involved in property development, hospitality and fashion.
Last year, Giggs' girlfriend Zara Charles, 36, gave birth to their daughter Cora.
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