Unsecured creditors of failed Hull-based haulier AR Lunn Transport & Warehousing have received just 4% of the money owed to them, the firm's administrators have revealed.
In its final progress report covering the six months to 28 February, PricewaterhouseCoopers said it had paid just over £76,500 to unsecured creditors of the firm, which entered administration in early 2012 blaming rising fuel prices and other operating costs. That sum represented a first and final dividend of 3.99 pence in the pound.
Prior to entering administration, AR Lunn was put up for sale, said the administrators' report, but no interest was received.
A sale of the firms' assets just after it entered administration, including its fleet of 80 trucks and 113 trailers, raised over £1m, it shows.
