The administrators said the retailer’s 541 known unsecured creditors are owed at least £35.6 ($44.2 million) but are unlikely to collectively receive more than £800,000 ($996,000), or “less than a penny in the pound.”
Overall revenues for the three months through March totalled 818 million euros ($874 million), above a company-provided analyst consensus of 786 million euros.
The closure is part of the company's plan to raise $850 million to $1 billion and help improve its credit metrics, said chief executive officer Alejandro González.