The company at the centre of an investigation and the suspension of a Labour MP is known to have served as a lettings agency.

Bayo Alaba, MP for Southend East & Rochford, is being probed following a story in The Times about a loan to one of his businesses during the pandemic.

Before Alaba was elected as an MP in 2024, he ran a number of businesses. One was Alaba Properties Ltd, registered in London with the MP as its owner and director.

Companies House lists its activities as buying and selling its own real estate, letting or operating property and managing real estate for a fee or under contract.

The Times says Alaba appears to have taken out two bounceback loans during Covid but questions remain about two attempts to wind up one his companies in 2022 and whether it was eligible for the loan anyway.

Various media report suggest the attempt to wind up the business was prevented because of the unpaid bounce back loan of some £50,000.

Alaba has confirmed he took out two bounceback loans and he is understood to now be repaying the loans, according to The Times. 

But questions remain over why he tried to wind up Alaba Properties Ltd and whether his companies were eligible for loans.

In a statement to the media, the MP says: “Like many businesses and entrepreneurs, I accessed financial support during the Covid-19 pandemic. 

“I am wholeheartedly committed to ensuring that the liability is met in full. I’ve referred myself to the Labour party’s investigations process on the matter and I’ll cooperate fully.”

And the Labour Party says in a separate statement: “Bayo Alaba MP has referred himself to the Labour Party so that this matter can be investigated in line with the party’s rules. We cannot comment further while the investigation is ongoing.”