Creditors of failed Notts contractor set to miss out on £60m

Unsecured creditors of collapsed Huthwaite contractor nmcn are set to lose over £60m, it has been revealed.

Documents from administrator Grant Thornton show there was £60.5m black hole in nmcn’s finances when it collapsed earlier this month.

Hundreds of suppliers will miss out of what is owed for them, including sub-contractors on major development sites across the UK.

nmcn was plunged into administration two weeks ago after its board decided that the company was no longer able to continue trading and after a rescue deal by investor Sevall fell through.

Helen Dale, Nigel Morrison and Jonathan Roden of Grant Thornton weere appointed as administrators. nmcn Sustainable Solutions has also been placed into administration.

The vast majority of jobs at nmcn have since been saved as Grant Thornton has overseen a series of deals to sell parts of the business. In all, only around 80 of around 4,000 jobs have been lost.