SLG entered administration in May and in an interim report, administrators Ernst & Young said: “It is estimated that non-preferential (creditor) claims will be in the region of £405 million.”
The report said 942 claims had been received by 31 December, totalling £26 million. “All the claims submitted to date are from trade creditors. It is not envisaged there will be any funds available for a distribution.”
Former staff, who hold preferential creditor claims, “in the region of £653,000” relating to salaries and other payments, will also lose out. The administrators said they “do not currently anticipate” any payments to former employees.
