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Retail & Consumer

Creditors to lose millions after Hotter Shoes administration despite rescue deal

The creditors of Hotter Shoes include Royal Mail, Facebook and Google

Hotter Shoes is headquartered in Lancashire(Image: Hotter Shoes)

The creditors of Hotter Shoes face a shortfall of more than £11m after its collapse into administration despite a rescue deal being completed.

The Skelmersdale-headquartered company was the main subsidiary of AIM-listed Unbound Group and was the trading name of Beaconsfield Footwear.

Over 400 jobs were saved when Hotter Shoes was rescued by WoolOvers Group out of administration for £6.7m in July.

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However, a newly-filed document with Companies House has revealed that the creditors of Hotter Shoes face a shortfall of £11.6m.

According to the document compiled by administrator Interpath Advisory, the company's largest creditor was Unbound Group itself which was owed over £1.6m.

BBK Shoes, which is based in India, was owed more than £837,000 while other creditors included Royal Mail, Facebook and Google.

Interpath Advisory is expected to file another document to Companies House in the coming weeks which will detail how Hotter Shoes entered administration as well as reveal more about how much in total its creditors are owed.