Unsecured creditors left holding unpaid bills following the collapse of modular specialist ilke Homes last June will receive just £829,000 for the £63m they are owed.
The bad news was contained in an update filed at Companies House yesterday by administrators to ilke Homes Holdings and ilke Homes Land.
Ilke collapsed nearly a year ago with debts totalling £320m when it ran out of money after failing to find a buyer for the business.
Administrator AlixPartners UK confirmed that unsecured creditors at ilke Homes Land will receive £800,000 of the £34.9m they are owed while suppliers at ilke Homes Holding will get just £29,000 of £23.9m.
Ilke also owed Homes England £68.7m. The government housing agency will get back £5m of the cash it lent to the company in 2019.
AlixPartners said it has earned fees of nearly £800,000 so far handling the administration at an average hourly cost of £451.
