UK construction firm plunged into administration with £17M unpaid bills

A UK construction company that reported multimillion-pound profits at the beginning of the year has collapsed into administration, leaving £17.4 million in unpaid bills and hundreds of workers made redundant.

Merit Holdings fell into administration last November. However, administrators Interpath, which took control of the firm, revealed the scale of the debt earlier this year, stating that it was "highly unlikely" that unsecured creditors would receive any payment for outstanding invoices.