The Floor Room owned shoppers more than £2m in deposits at the time of its collapse and John Lewis was easily its largest trade creditor (outwith former parent Nestware and sister brand Carpetright).
The statement of affairs for the former John Lewis concession operator shows that 836 consumers had outstanding deposits at the time of the 9 August administrator totalling £2,019,898.
John Lewis has said it will make sure none of the former concession customers are left out of pocket.
The chain was owned £90,799 and is easily the largest of the trade creditors, excluding Nestware (which has a £10.5m loan outstanding and Carpetright £255,000) while former sister brand Keswick Flooring is owed £50,000.
PwC has estimated in its first report to creditors that the former The Floor Room employees are owned £98,000 – which it thinks will be paid in full within six-nine months. This is despite former John Lewis/TFR staff claiming they are owned tens of thousands – often individually – which may be the subject of legal action.
This compares with the £9,542 paid to the chain’s final four employees to assist in the immediate post-administration period and the £165,000 for fees which PwC is claiming for 29 July-9 August.
HMRC is owed £280,000 of which PwC estimates it will receive 22%-52%.
TFR had cash of £655,000 at the time of administration.
