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Administrators handling the fallout from Innovate's collapse are digging deeper to establish whether action should be brought against the company's former directors after they estimated a massive £54m shortfall across the group. BDO Stoy Hayward describes this as a "significant deficiency" that warrants further analysis and it has made full copies of the group's financial computer records and e-mail  system to help with its investigations.

Meanwhile, unsecured creditors are facing up to receiving little if anything from Innovate's demise non-preferential claims for its Logistics business alone hit £14.2m in July, with £8.8m from creditors. Herts-based Funstons is owed £5,500, but MD Dave Shaw remains doubtful he will be paid: "It's looking like zero in the pound at the moment, which is what most people must be saying."

Shaw says he was aware the company was struggling towards the end: "We knew there were issues and we mitigated our losses as best we could." Another haulage company based in the South-West and unwilling to be named confirms it is owed more than £7,000. Its boss claims Innovate was "always quite slow at paying, then they stopped all of a sudden".

He adds: "We were chasing money for a few weeks. We could tell they were in difficulties so we stopped working. We did get some of it back the financial director was as helpful as he could be." Stuart  Naish, MD for industry consultancy Jigsaw Logistics, says it is owed £5,500 for project work. He adds: "It came as a surprise to me, although having understood the reasons behind it, it makes sense really."

A report from BDO Stoy Hayward states: "Concern has been expressed by creditors and the parent company in relation to the management and operation of the businesses by previous management. In order to establish whether there are any possible actions that could be brought against the former management/directors, we will be undertaking a forensic investigation." BDO was unable to comment further as CM went to press. Parent company Eimskip, which withdrew its support from the group in May, did not comment.