An update from administrator Horsfields reveals 227 trade creditors were left holding unpaid bills which are now worthless.
Vidi also owed £300,000 to its 32 employees and £235,000 to the tax man.
The company was working on five live residential sites across London and the South East at the time of its demise.
Draft management accounts show Vidi had a turnover of £79m for the year to September 30 2024 genereating a pre-tax profit of £1.9m.
The firm had been trading since 2016 but its main client went into administration in 2024 which had a “devastating impact on trading performance.”
Over half of the company’s ongoing projects were suspended immediately leading to critical cash flow failure.
