KPMG report details who is owed what by collapsed firm

Unsecured creditors of collapsed Warrington contractor Cruden have been warned by its administrator KPMG they are unlikely to get any money back.

Cruden sank into administration over the summer after 55 years of trading with KPMG in part blaming the covid-19 pandemic for its demise.

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KPMG was appointed Cruden administrator in July

A report filed at Companies House by KPMG reveals the list of unsecured creditors includes trade creditors, owed just over 拢5m, the tax man, who is due 拢1.1m in missing corporation tax and PAYE payments, and bond companies who have been left out of pocket to the tune of nearly 拢8m.

In its report KPMG said: 鈥淚t is uncertain whether there will be a dividend to unsecured creditors.鈥�

The report says Cruden鈥檚 employees are owed 拢144,500 in missing wages and holiday pay 鈥� although the amount employees will be able to claim in missing wages has been capped at 拢800.

And Lloyds Bank, the firm鈥檚 only secured creditor and owed just over 拢2m, has been told it might not get all its missing money as well.

The 拢54m turnover firm went under at the end of July with the loss of over 100 jobs.

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