Latest figure is 5% rise on what was previously estimated to be outstanding

The amount owed to creditors by collapsed firm Buckingham has gone up another £5m to £113m, an update by administrator Grant Thornton has revealed.

The firm collapsed last September with Grant Thornton saying the firm had been hobbled by “significant and increasing losses” on several sport and leisure schemes, thought to includes its jobs to build new stands for Premier League sides Liverpool and Fulham, which it put down to “inflationary pressures”.

At the time, the administrator said it owed its supply chain £108m but an update filed at Companies House this week says this has now gone up to £112.8m.

buckingham

Buckingham was set up in 1987 and had been targeting a £700m turnover last year. Instead it went under owing its supply chain £113m

More than 20 firms are due more than £1m each with two companies both owed more than £4m each – with the largest due to a cladding specialist which is out of pocket by £4.5m. Hundreds of unsecured creditors have been told not to expect any money back.

Buckingham’s employees are owed a further £8.2m, the update added.

At the time of its collapse Buckingham, which in its last set of accounts had a turnover of £665m in the year to December 2021, had just £4.98m in its current account with bank HSBC.

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