CASH flow problems and creditor pressure have been blamed for Steven Brown Art's failure, the liquidator said.
The company is known for its McCoo range of artwork, prints and merchandise.
The Ayr-based business, which was founded in 2016, had a turnover of £11.5 million and employed 21 staff, all of whom were made redundant.
Its extensive range of artwork and merchandise was sold directly from the gallery, online and through third-party retailers such as art galleries, gift shops and cafes.
READ MORE: McCoo artist Steven Brown battled back from two heart attacks and depression
Tom MacLennan and Arvindar Jit Singh, partners with FRP Advisory LLP, have been appointed provisional liquidators.
They will be selling the stock of artwork, prints and merchandise together with all other company assets such as vehicles, plant and equipment.
Mr MacLennan said: “Steven Brown Art Limited became very well-known for its range of highly creative and engaging artwork based around the famous ‘McCoo’ brand.
“Although the company grew rapidly it had been suffering from serious cash flow problems and creditor pressure.”
READ MORE: McCoo artist opens new gallery in Glasgow
He added: “As such the only option was to place the company in liquidation.
“We will now be selling all the remaining stock and would encourage interested parties to register their interest.
“We will also work closely with the Redundancy Payments Service and other agencies to minimise the impact on the staff affected by the closure of the business.”
Mr Brown, who saw his Oor Wullie and Big Tam McCoo painting sell to an unnamed buyer for £40,000 last year, opened in the Silverburn Centre in September following the early success of the Ayr store.
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