Administrators took charge of the business in July and have now detailed the extent of the company’s debts.

More than 100 unsecured creditors are owed £2.7m and administrators warned they are unlikely to receive a penny.

Latest accounts for Ilec filed at Companies House show that in the year to March 31 2019 the business made a pre-tax profit of £232,395 down from £522,654 last time as turnover fell sharply to £7.6m from £16.7m.

Administrators blamed the company’s demise on the Covid-19 lockdown causing a drop in revenue and impacting cash flow.

One supplier said: “Those debts are huge when you look at their last annual turnover.”