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Principles creditors bombard administrator

More than 5,000 customers of and suppliers to Principles have emailed the retailer’s administrator to try to reclaim money since the womenswear chain collapsed in March.

Documents posted at Companies House also show that Deloitte, which was appointed as administrator for the Mosaic Fashions group of companies earlier this year, also received more than 500 email claims relating to the group’s footwear concession business, Shoe Studio Group.

The other five chains that were part of Mosaic Fashions were quickly bought out of administration but Oasis, Warehouse, Karen Millen, Coast and Anoushka G still prompted more than 800 emails from landlords.

Deloitte has also received more than 2,000 letters and takes between 150 and 200 phone calls a day since March relating to the companies.

The Mosaic Group had liabilities of £519 million and owed £387.2 million to its secured lender alone, according to Deloitte.

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