Unsecured creditors claiming £50m, administrator of collapsed Simons says

Unsecured creditors have sent in claims of more than £50m to the administrator of collapsed contractor Simons Group.

FRP Advisory was appointed administrator to the 75-year-old firm at the end of last October but this has now been extended until October 2021.

In a progress report, FRP said it had received claims from unsecured creditors totalling £50.3m.

A number of Simons’ 124 employees have sent in claims totalling nearly £13,000 for missing holiday pay.

FRP said that it expected the preferential creditors, who include the employees, to be paid in full adding that unsecured creditors will get something back but was unable at the moment to say how much.