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Benson creditors set for meagre payout says PwC

THE MAN handling the administration of Benson will meet the creditors' committee of the collapsed contractor later this month.

It is the first meeting since the committee was formed at the creditors'meeting in February.

Joint administrator Michael Gerke from accountant PricewaterhouseCoopers said he would also be sending out letters to Benson's 3,000 creditors in July updating them on the situation.

He said: 'Firms will get something back but I can't say they will get anything better or worse than 10 pence in the pound.'

Benson went under just before Christmas with debts of around £25 million.