Staff from vinspired, owed £250,000, might get just £44,000

The youth volunteering charity, which went into administration last month, owes £564,000 to more than 30 creditors

Staff at vinspired face a battle to recover more than £250,000 owed to them after the youth volunteering charity went into administration last month.

According to documents posted on the Companies House website, vinspired has more than 30 creditors who are owed a total of £564,000.

The 20 staff who lost their jobs account for almost half of this figure.

Vinspired's assets total £232,000, which means it has less than half the necessary funds to pay all creditors in full.

Staff are likely to receive £44,000 in total for unpaid wages, holiday pay and pension schemes because these payments are classed as preferential and will therefore be among the first distributed from the assets.

But a further £238,000 owed to staff – believed to be redundancy and notice-period pay – is classed as "unsecured non-preferential claims" and is not prioritised.

Other unsecured non-preferential claims include £239,000 from trade and expense creditors and £51,000 from HM Revenue & Customs.

After staff, the IT consultancy Nurved, which is owed £135,000, is the biggest single creditor.

Vinspired went into administration on 27 November, a day before staff were due to receive their final monthly wages.

Most of its £232,000 assets are in the form of cash, which totals £200,000.

The Notice of Statement of Affairs, which is posted on the Companies House website, says the London insolvency practitioner Antony Batty has been appointed administrator. It did not respond to calls from Third Sector.

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