Firm sank into administration last February

Administrators have told unsecured creditors they won’t be getting a penny back of their missing £45m as Tolent prepares to head for dissolution.

In its final update on the collapsed company, which went into administration a year ago, Interpath said “there were insufficient finds to pay a dividend to unsecured creditors”.

HMRC was also told it wouldn’t be getting back any of its missing £1.5m while staff had already been told they were unlikely to see any of their missing £600,000 repaid.

tolent

Tolent’s construction arm employed just over 350 staff at the time it went under last year

At the time of its implosion last February, the contractor, which was set up in 1989, employed 356 people all of whom were eventually made redundant.

Secured creditor, finance firm IGF, will receive all of its outstanding £4.7m back through “asset realisations” across Tolent.

Tolent is expected to be formally dissolved within the next three months.

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