A creditors report seen by the Enquirer reveals that there is not enough cash to pay £7.3m owed to the firm’s bankers so unsecured creditors will get nothing.
The report from administrator KPMG states: “The company has unsecured liabilities of £22,976,615.
“It is anticipated that there will be a shortfall to the Bank, therefore we do not expect there to be a distribution to the unsecured creditors of the company.”
Pilkington’s went into administration in June alongside its specialist division Quiligotti which supplies terrazzo flooring to contractors.
KPMG has made 248 of the firm’s 368 staff redundant.
The remaining workers have been kept on to maintain production at the ceramic and terrazzo tiles plant to fulfill existing orders while the administrators look for a potential buyer for the firm.
The administrators have sold more than £700,000 worth of tiles to contractors since restarting limited production.
Eleven serious offers have been received to buy the business and KPMG is still in discussions with interested parties.