The extent of the firm’s debt was revealed by Matlock insolvency specialist Seneca, which is handling the administration.
The business was placed into administration two months ago with the loss of around 58 jobs after weeks of complaints from suppliers and many workers about not being paid.
The business was founded 17 years ago by a then 23-year-old Will Nixon, offering groundwork services.
It quickly developed into plant hire as the business took off moving from employing around 10 staff to more than 100 at peak trading.
Will Nixon operated its own plant fleet from 3t-30t excavators and dump trucks.