MK One creditors to get 1p in £1
Administrators' report reveals scale of debts owed by discount retailer.
Administrators' report reveals scale of debts owed by discount retailer.
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
Telegraph reported.
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.
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