The fallout from the collapse of South West construction giant Midas is even worse than initially thought with more than £60m of debts now unable to be paid including £4.5m owed to its own employees.
New figures from administrators reveal nearly £70m is being claimed by creditors with more than 1,500 of them likely to receive no cash.
Reports from global business advisory firm Teneo Financial Advisory Ltd show the two main companies in the Midas family - Midas Group Ltd and Midas Construction Ltd - have realisable assets of just £8,354,644.
