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The administrator for collapsed contractor Shaylor Group has confirmed that unsecured creditors will get less than half a penny back for every pound they are owed.

Trade creditors are out of pocket by 拢19m while the only secured creditor Allied Irish Bank (AIB) is owed more than 拢14m.

Shaylor went into administration in June, ending more than 50 years of business, leaving 210 people without jobs and creditors on the hook for more than 拢47m.

Administrator FRP Advisory first warned unsecured creditors last August that they will get just 0.39p for every pound they are owed meaning of the 拢19m outstanding, just over 拢74,000 will be returned.

In an update filed at Companies House last week, it said: 鈥淲e currently anticipate that there is little prospect of a return to unsecured creditors materially in excess of the 0.39 pence in the pound estimated.鈥�

AIB, which is owed close to 拢14.5m, has recouped 拢2.2m following the sale of Shaylor鈥檚 offices in Walsall but FRP warned it that it 鈥渨ill suffer a significant shortfall on its indebtedness鈥�.

FRP said just over 拢172,000 had been collected by quantity surveyor Leslie Keats while a car owned by Shaylor has been sold for 拢39,000.

Restructuring firm Gordon Brothers also raked in 拢10,000 for two John Deere Gator utility vehicles from an unnamed former Shaylor director. 鈥淭he offer was accepted鈥�pending a sale to a third party,鈥� the report added.

FRP said the cost of its work on the administration would top 拢198,000. Total costs, which include fees due to be paid to other firms working on the collapse, including Leslie Keats and law firm Eversheds, will be just over 拢346,000.