Cheshire based civils and building contractor M Igoe Ltd owed suppliers and subcontractors more than £3.5m when it went into administration last October.
The scale of the firm’s debts have been revealed in an update filed at Companies House by administrator BDO LLP.
More than 250 unsecured creditors have been left holding unpaid invoices following the firm’s demise.
M Igoe had been in business since 1985 specialising in civils work for major house builders across the North West.
The firm had 32 employees and used more than 90 subcontractors working on 11 live contracts when it went under.
BDO said the £20m turnover contractor was sunk by delayed contracts and rising costs which led to higher bank borrowing and director’s loans of more than £1.5m in a bid to keep the business going.
The weakening housing market in 2023 was the final straw leading to a cash flow crisis and suppliers withdrawing their services.