Creditors count the cost

Christmas hamper firm Farepak collapsed in October 2006 owing £37 million to more than 119,000 savers.

Four years later, savers are likely to recover just 5p in the pound, while the final bill for the administrators and their legal advisers could reach 3m.

Zavvi, the music retail chain, went into administration in November 2008, owing unsecured creditors nearly 185m, including 510,000 unredeemed vouchers worth an estimated 4.1m. Creditors are likely to get back between 5p and 10p in the pound. Administrators Ernst & Young have collected 4.3m in fees.

Furniture chain Land of Leather went into administration with debts of 37m in January 2009. Creditors received 9p in the pound, while administrators Deloitte and Touche collected fees of 2.5m. The Israel-British bank entered liquidation in 1974, but was only finalised in 2009.