Hatton Garden deposit firm to shut after £10m heist

The Hatton Garden Safe Deposit Credit: PA

The deposit box company raided in the the £10 million Hatton Garden jewellery heist has gone into liquidation after its trade slumped.

The Hatton Garden Safe Deposit company, owned by Sudanese father and son Mahendra and Manish Bavis, called in the liquidators last week.

The firm's trade is understood to have dried up since the burglary on April 2, with fewer people willing to place their valuables at the exclusive central London location.

The Easter weekend raid saw thieves drill a large hole into a vault at the Hatton Garden Safe Deposit, before ransacking the deposit boxes and making off with the goods.

The vaults were ransacked in April Credit: Metropolitan Police / PA

Sunney Sagoo, the liquidator, told The Telegraph: "Because of the robbery and the bad publicity surrounding it the company had suffered from a loss of custom."

A total of 13 defendants are due to appear at Woolwich Crown Court on Friday charged in connection with the heist.