Connaught is 7 m £ staff and thousands of Red Cross
Overall, unsecured creditors total company 87 m £ hit vendors, the tax authorities and local councils short-term liquidity of the United Kingdom. It is thought that its debts to the British Red Cross Society, a charitable organization, health and safety training.
The KPMG report administrators, describes the fate of the Connaught depth and KPMG also argued he found records of an employee in a "are not reliable and in bad condition".
Unsecured creditors are likely to receive only a desperate small portion of the money back after that KPMG has stated that he only 600,000 £ funds to distribute. ""Not based on current estimates, it will be no distribution to creditors guaranteed company, other than a small dividend regulatory part," warned administrators.
Connaught has 215 million pounds to a syndicate of secured lenders, led by the Royal Bank of Scotland, but KPMG has said that they also "likely to suffer from considerable profits and are probably not be fully repaid.
The parent of Connaught and maintenance of housing arm is collapsed administration in September after management notified of reductions in public expenditure have been pressing for recettes.Il there doubts about its accounting practices.
More than 7 million from £ is due to staff salaries, the days of replacement and payments redondance.Mark Tincknell, former Chief Executive, is due to £ 29,000.
However, KPMG is likely to be rewarded for handle administration after already amassed a bill of £ 3.9 m.
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