The size of the corporate’s money owed have been revealed in an replace by administrator Interpath who took management in November.
The administrator’s proposals for Advantage Holdings state it’s “extremely unlikely” unsecured collectors will obtain a penny for his or her excellent invoices.
Advantage employed 284 workers on the time of administration who had been all made redundant.
Newest accounts for the Northumberland primarily based agency present a turnover of £79.7m for the yr to June 30 2025 producing a pre-tax revenue of £4.3m.
Advantage was based by former Chief Government Officer Tony Wells.
The report states {that a} “substantial disposal of belongings” was agreed post-administration to a “linked get together” known as Advantage Industrialised Development Ltd for £396,000.
Corporations Home data present Advantage Holdings administrators Kirsty Wells, Matthew McGrady and David Wilkinson had been additionally administrators of newly-formed Advantage Industrialised Development Ltd on the time of the acquisition.
Kirsty Wells additionally arrange two different new corporations in November known as Blaze Know-how and Newco MHL Ltd.
