The British Corner Shop owes Marks & Spencer over half a million pounds after collapsing earlier this year, a newly released administrator’s report shows.
The popular online retailer specialising in selling British goods to expats entered administration last month after struggling with the impact of Brexit and Covid.
It now owes £2.5m to creditors, including a hefty £539,234 to M&S, one of its biggest suppliers.
Following a high-profile link-up in 2021, the British Corner Shop began selling classic M&S treats like Percy Pigs and biscuits.
Now the supermarket is likely to be left out of pocket as the administrator’s report predicts the business will realise just £236k from its assets, with all of it expected to go to banks and HMRC.
The British Corner Shop was the leading international exporter of UK food products, selling over 6,000 household brands to a global customer base for over 20 years.
Read more: Expat favourite British Corner Shop enters administration
All 20 employees of the Bristol-based retailer were made redundant after it ceased trading last month.
The collapse also marked the second time the British Corner Shop entered administration, after being rescued in a pre-pack deal in April last year.
It was sold then to private equity firm Rcapital, resulting in 51 jobs being saved – 28 in the UK and 23 in the Netherlands, where it had a distribution centre from which it supplied its customer base globally.
The Netherlands DC was set up to try to bypass post-Brexit export red tape, but the move was not enough to keep it from going under.
Its Dutch sister firm is now owed the highest value of £852,410, according to the administrator’s report.
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