Failed Liverpool retailer Rapid Hardware went down owing £3m - and unsecured creditors will take a total loss.
The administrators' statement of affairs, just filed at Companies House, shows that main trade creditors include Stax, owed a total of £702,000, and Mark Two Distributors (£187,600).

One secured creditor, NatWest, is owed £372,000 and is unlikely to be paid in full. Preferential creditors, mostly employees, are owed a further £250,000. Around 600 customers who had paid a total of £330,000 in deposits have been notified that they have unsecured claims - ie, they will not get their money back.

Unsecured claims total £2.447m, giving a total deficit of £2.972m. According to the administrators, the company's assets have a book value of £1.746m, but are estimated to realise only £75,000. There will be no creditors meeting because, with no funds to distribute, there is nothing to discuss.

Rapid went into administration in February.

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