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Unwins' debt revealed

Published: 23 July, 2008

Defunct off-licence chain Unwins was carrying debts totalling a massive 42 million before it was forced out of business, administrator KPMG has revealed. Diageo alone is owed 2.1 million.
Creditors to the business - including banks, Revenue & Customs (owed 7.9 million), employees and suppliers -
are to vote on a number of proposals put forward by the administrator. KPMG's report also revealed that Thresher Group paid 4.5 million for the 175 stores it bought in December 2005.

Defunct off-licence chain Unwins was carrying debts totalling a massive £42 million before it was forced out of business, administrator KPMG has revealed. Diageo alone is owed £2.1 million.

Creditors to the business ? including banks, Revenue & Customs (owed £7.9 million), employees and suppliers ?

are to vote on a number of proposals put forward by the administrator. KPMG?s report also revealed that Thresher Group paid £4.5 million for the 175 stores it bought in December 2005.

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