Burberry, Gucci, Bottega Veneta and Prada are among the creditors owed ￡36mn after Matchesfashion collapsed, with hundreds of suppliers likely to receive less than a penny in the pound.
The luxury brands are among more than 500 unsecured creditors to Matches, the ecommerce site bought by Mike Ashley’s Frasers group in December and which was placed in administration last month.
They are unlikely to be paid back, the administrators at Teneo said in a report this week; if they are the amount would be “very low?.?.?.?less than a penny in the pound”.
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