Unsecured creditors of MK One, the discount retailer which collapsed into
administration in May, will receive a maximum of 1p in the £1, administrator
Deloitte has warned.
The retailer owes suppliers and other creditors more than £50m,
The report says the company made a pre-tax loss of £20m in the year to
January 2008, despite sales increasing to £123m, up from £118m the year before.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies