A raft of media, data and marketing companies – including Google, Red Eye Consulting and Oracle – have been left hundreds of thousands of pounds out of pocket by the collapse of Monarch Airlines, although perhaps its most well-known supplier, DM agency WDMP, looks to have escaped without being owed a single penny.
According to the creditors’ report – compiled by joint administrators at KMPG – companies working in the sector are owed nearly £980,000 by the airline, which went bust in October.
Google is the most exposed, being owed a total of £454,686, although it is perhaps best placed to shoulder the debt. Other notable creditors include Oracle (£93,527), cloud provider Exponential-E (£81,465), Red Eye International (£81,061) and Branded3 Search (£74,544).
It also owes Simplicity Marketing £56,181, RR Donnelly UK £29,133, Syzygy UK £26,109, Primesight (formerly Airport Media) £31,509,
Experian QAS has got off reality lightly with a debt of £7,452, while others, including Brave Spark Media, Emperor Design Consultants, Precision Colour Printing, Midland Communications Company, Green Pea Marketing are owed between £5,100 and £174.
WDMP, however, which had worked for the airline since 2010 and won the DMA Awards grand prix in 2013 for its augmented reality mailing (pictured), is not included on the list of creditors.
As for those on the list, KPMG has said it expects preferential creditors, Monarch’s employees, to receive 100% of the money owed to them. The rest of the airline’s creditors are likely to get nothing, or just pennies in the pound.
Even so, it has been claimed that Monarch Airlines’ former owners Greybull Capital could yet make a profit on their investment.
In total, Monarch has a secured debt of about £167m, with Greybull owed about £160m and Monarch Pension Fund PPF £7.5m.
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