Northern Ireland steel haulier Donnelly Transport struggled under the weight of a number of significant historical bad debts and increased operational costs in the run-up to its administration in September.
Administrators at the Scarva-based firm also said that the high level of company liabilities meant that it could not be rescued as a going concern.
All 26 employees were made redundant after RSM was appointed and it said estimated claims totalling £28,763 relating to wages and holiday pay should be paid out in full.
Unsecured claims are estimated at around £821,000.
However, RSM said there would only be a small amount of prescribed part money available to pay unsecured creditors.
Taking into account the costs for preferential creditors and administration costs and fees it was estimated companies that traded with Donnelly Transport may only be paid 0.5p in the pound.
The company had a standard international licence authorising up to 17 HGVs out of three depots in Armagh, Antrim and Craigavon.
Trading results provided by RSM showed that in the year ending 31 October 2017 turnover was £4.48m, but net profit after tax was just £14,000.
