Companies House records show 55% of the group’s holding company was purchased by an Employee Ownership Trust (EOT).
EOTs allow owners to sell their shares tax-free while employees get a stake in the company and can also receive tax-free future bonuses.
The deal was financed by the Allied Irish Bank who were due to be paid back from future profits.
The Enquirer understands the deal was worth around £15m.
The bank declined to comment when contacted by the Enquirer.
Staff were told the move was a positive one for them when the deal was struck in October.
One said: “When they did it we were told not to worry it was just part of streamlining the business and changing banks.
“Subsequently the company overdraft was reduced significantly.”
Another said: “The business took out a big loan on this which it obviously can’t pay back now it has gone bust.
“I’m sure the banks will come looking for their money one way or another.”