Suppliers and other creditors of the collapsed Testerworld business are likely to miss out on more than £28m owed following the company's demise.
A new report from administrators at Kroll, which is handling the affairs of the company that was based out of Prudhoe and had sites around the country, shows unsecured creditors have come forward with claims for £28.1m, from an estimated £57m owed. But despite a complex winding down of the company which has cost around £1.3m so far, there is unlikely to be funds available to them.
Testerworld, which was part of the £300m turnover Converse Pharma Group and operated under the DE Group brand, collapsed in May this year. It was joined by stablemates Eclipse Generics Limited and Doncaster Pharmaceuticals in May, leaving 1,000 people redundant.
