Headington-based Blanchford Building Supplies closed down earlier this year after 87 years of trading after underperformance and a cash flow issue had rendered it unable to buy essential stock.
Administrators were called and revealed Blanchford, which also had sites in Bicester, Wallingford, Princes Risborough and Haddenham, had racked up debts of more than £3.3m to suppliers.
Forecasts in the summer suggested creditors would only receive 2.7p in the pound back from debts owed to them.
Blanchford’s yard in Headington (Image: NQ)
However, in their latest report, the administrators now believe this will be 5.8p in the pound – meaning those owed money will still lose out significantly.
Barclays Bank has received…