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Robson Brown creditors likely to receive less than 19% of owed money

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By The Drum Team | Staff Writer

January 31, 2011 | 2 min read

Administrators for Robson Brown have said ordinary creditors are likely to get back less than 19p for every £1 they are owed.

According to Marketing Services Financial Intelligence, the amount owed to creditors by Robson Brown is estimated in the statement of affairs at over £6.6 million but administrators Zolfo Cooper have described the likelihood of a 19p payout as an “optimistic assessment of the outcome”.

Meanwhile it was also revealed by Marketing Services Financial Intelligence last week that almost £9m of Robson Brown’s assets went missing between its last accounts being submitted and administrators being appointed.

Net assets for February 2009 were £3.3m according to the post, with this dropping to a deficiency of £5.4m 21 months later when administrators were appointed – a drop of £8.7m.

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