Firm collapsed last October

An update from the administrator of collapsed contractor Simons Group has said the administration has been extended by a year.

FRP Advisory was appointed at the end of last October but this has now been extended until October 2021.

simons 1

The firm collapsed last October

In June, the firm said around 600 creditors had sent in claims totalling more than 拢13m.

But the figure is around a quarter of what FRP Advisory said was owed by the Lincoln contractor to unsecured creditors in January 鈥� suggesting many have given up on getting back anything they are owed.

FRP was called in when the 75-year-old firm sank into administration owing unsecured creditors 拢54m.

Creditors expecting to recoup any more than a token amount back look set to be disappointed 鈥� FRP鈥檚 report revealed it had raked in 拢71,000 in the six month period up to April 2020 mainly through the sale of company cars and office equipment. But the cost of all this meant the balance left was less than 拢10,000.

A number of Simons鈥� 124 employees have sent in claims totalling nearly 拢13,000 for missing holiday pay.

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