A print group which went bust earlier this month with the loss of 150 jobs, owed more than £10 million, new documents show.
Administrators were brought in at Leicester’s Taylor Bloxham Group following what they called “severe cashflow pressures”.
The business, based in Beaumont Leys, had been trading since 1939.
The new report posted at Companies House by administrators at FRP Advisory, said they had been unable to save it as a going concern because of the liabilities.
However, as reported when the group went under, they were able to sell one of its four divisions, a mailshot specialist called Mailbox, in a pre-pack deal which saved 21 jobs.
It was bought by a company called Vanquish Acquisitions Ltd, registered in Nottingham, for £45,000 plus just around £16,000 in VAT.
Three other divisions – printer Taylor Bloxham; point of sale specialist Instore; and warehousing, distribution and e-commerce division FastAnt – were closed down.
The report shows the assets of Instore were sold for £20,000-plus VAT, while FastAnt’s assets went for £30,000-plus VAT.
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The report shows the Taylor Bloxham Group, which turned over £34.4 million in its last financial year, had owed £4.44 million to trade creditors, more than £500,000 to HMRC and some £57,000 to its landlords.
Companies that had provided finance to the business for plant and machinery, were also said to be owed more than £5 million pounds.
The report showed its biggest creditors included Encore Personnel, HMRC, Kodak Ltd, paper supplier Lecta, Middleton Paper Company, NPower and Parcel Force.
Among the creditors were Tudor Specialist Print Finishers, in Wigston, whose managing director said they were owed £40,000.
Mr Chamberlain previously told Business-Live he had worked with Taylor Bloxham Group for 28 years, but had seen it go downhill from being a leader in its sector.
He said: “If you take £40,000 away from a company the size of ours and also lose the work we were doing for them, it’s like a double whammy.
“It’s been a shambles for 10 years and was getting worse and worse over the past three or four months.
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“It started to follow a pattern, with phones calls not being answered and e-mails not being answered, and we started to feel like we were just a number on a spread sheet.
“There are people that will be able to stand the losses or are insured against them, but there will be dozens of suppliers like us – unsecured creditors who will get nothing.
“There’s a one man band running his own van owed £9,000 and another owed £42,000.”
Another supplier, who worked with the group for more than a decade, said they were more than £10,000 out of pocket.
The company owner, who did not want to identify his Leicestershire-based business, said he had found it hard to speak to anyone at Taylor Bloxham Group since early December.
He said: “I’ve got e-mails to prove they have not replied since last year.
“You have to question what was going on. They were a top notch business, a company that had invested in machinery, but everything went wrong.
“We won’t get anything.”