Sadie Frost's creditors to receive less than 10p in the £1

Creditors to Sadie Frost's clothing company FrostFrench are expected to receive less than 10p in the £1 after the company called in the administrators this week. The lingerie and accessories brand collapsed owing more than £4m and its subsequent sale for a 'six-figure' sum fell far short of the amount needed to settle its debts. Asher Miller, of accountant David Rubin & Partners, which is running the administration, said the proceeds from the rescue deal brokered with a Norwegian consortium would mean a 'small' dividend payout to investors, but refused to comment on its size. The brand's future has been safeguarded by the new backers, who include John Joakim, a Norwegian film producer and property investor. FrostFrench was started by Frost and her design partner Jemima French in 1999 but sales have failed to live up to the... [read full story]