The collapse of listed retail butchers business Crawshaw Group has left creditors claiming to be more than £15m out of pocket, newly filed documents reveal.
Crawshaw Group shut 35 of its 54-store portfolio across the north and Midlands when it crashed into administration in October following a failed turnaround plan.
A £1.4m rescue deal saw Irish entrepreneur Thomas Cribbin save 19 stores and a Rotherham factory, which continue to trade under the Crawshaws brand, saving 250 jobs at the beleaguered chain.
Newly filed documents issued by administrator Ernst & Young reveal that the butcher chain was facing claims from creditors of more than £15.8m, including more than £8m in intercompany loans.
Outside of the loans, the largest debts are owed to landlords, who have made claims totalling more than £6.7m.
A number of local authorities are listed as seeking repayment, including a claim of £880k to North East Lincolnshire Council.
Trade creditors, including a number of major meat suppliers, claimed debts of £1.7m, according to the filings. However, recent claims meant these could now be “up to £3m”, said an EY spokeswoman.
Claims from trade creditors included the payment of £183k to 2 Sisters, £67k to Dawn Meats, £22k to Moy Park and £77k to Premier Quality Foods.
The AIM-listed retailer called in insolvency specialists after suffering more than £15.9m in losses over the past two-and-a-half financial years, the administrator’s report stated.