Brands stocked by young fashion retailer USC are owed a total of £14.3m following the business’ pre-pack administration.
A creditors report issued by administrators Duff & Phelps states money owed to non-preferential unsecured creditors totalled £15.2m at the time of going into administration. Of these creditors, trade and expense creditors are owed £14.3m; HMRC is owed £576,499 and gift vouchers issued by the firm total £286,333.
Brands hit hardest include Diesel, which is owed £1.3m and G-Star which is owed £1m.
Converse is owed £656,817, Warnaco - parent company for Calvin Klein - is £562,881 out of pocket while Bestseller is owed £417,312. Tommy Hilfiger is owed £104,061.
It is understood that most of the money owed to suppliers is held in stock and USC is dealing with brands on a case by case basis to come to an agreement. All of the 90 USC stores are still trading.
USC appointed Duff & Phelps and Gallagher Partnership as joint administrators on January 13 before selling the company to another Sports Direct-owned firm Republic.
More than 200 workers at USC’s warehouse in Dundonald, South Ayrshire, were made redundant when the business went into administration last month. As reported by Drapers, workers are to take their cases to an employment tribunal.
Meanwhile Sports Direct founder Mike Ashley will be pulled into a parliamentary investigation over his business practices and the treatment of the workers.