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.
In June, the firm said around 600 creditors had sent in claims totalling more than £13m.
But the figure is around a quarter of what FRP Advisory said was owed by the Lincoln contractor to unsecured creditors in January – 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 £54m.
Creditors expecting to recoup any more than a token amount back look set to be disappointed – FRP’s report revealed it had raked in £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 £10,000.
A number of Simons’ 124 employees have sent in claims totalling nearly £13,000 for missing holiday pay.