No payment is likely to be made to non-preferential trade Focus creditors - who between them are owed some £61.5m, according to administrators Ernst & Young.
Their statement of proposals, sent out on Friday, makes it clear that distributing the preferred part, totalling £600k, between all non-preferential creditors, including trade creditors, would result in a payment of less than one pence in the pound. The cost of making that distribution is, says the report "disproportionate to the benefits".
The report also contains a full list of trade creditors, which shows the three companies hardest hit were ICI Paints, owed a total of £6.7m, PPG, owed £5.9m and The Scotts Miracle-Gro Company, owed £5.8m.
The full list of Focus creditors, sent out by administrators Ernst and Young, will make uncomfortable reading for many suppliers, highlighting levels of exposure many can ill-afford.
Proteam was the first company forced to enter administration following the Focus collapse. The creditors list shows the company was owed £2.7m - almost twice the £1.5m operating profit the company made last year on sales of £16.7m.
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