Latest figure is 5% rise on what was previously estimated to be outstanding

The amount owed to creditors by collapsed firm Buckingham has gone up another 拢5m to 拢113m, an update by administrator Grant Thornton has revealed.

The firm collapsed last September with Grant Thornton saying the firm had been hobbled by 鈥渟ignificant and increasing losses鈥� on several sport and leisure schemes, thought to includes its jobs to build new stands for Premier League sides Liverpool and Fulham, which it put down to 鈥渋nflationary pressures鈥�.

At the time, the administrator said it owed its supply chain 拢108m but an update filed at Companies House this week says this has now gone up to 拢112.8m.

buckingham

Buckingham was set up in 1987 and had been targeting a 拢700m turnover last year. Instead it went under owing its supply chain 拢113m

More than 20 firms are due more than 拢1m each with two companies both owed more than 拢4m each 鈥� with the largest due to a cladding specialist which is out of pocket by 拢4.5m. Hundreds of unsecured creditors have been told not to expect any money back.

Buckingham鈥檚 employees are owed a further 拢8.2m, the update added.

At the time of its collapse Buckingham, which in its last set of accounts had a turnover of 拢665m in the year to December 2021, had just 拢4.98m in its current account with bank HSBC.

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