A North Wales dairy that went out of business leaving farmers scrambling to find someone to collect their milk owes creditors £17m.
Tomlinsons Dairies in Minera, Wrexham, collapsed in October with the loss of 330 jobs citing operating losses worsened by energy costs and a depressed cream price.
Administrators PricewaterhouseCoopers (PwC) have said the firm owed HSBC £15.6m and Finance Wales Investments (FWI) £1.8m.
It said the prospect of recovery for HSBC was "uncertain" and "nil" for FWI.
The business was established in 1983 by brothers Philip and John Tomlinson, expanding from a doorstep round using milk from their family dairy farm in Minera.
Farmers first heard the news in phone and text messages that Tomlinsons could not accept their supplies.
Three years ago the company doubled the size of its Minera dairy, added a distribution hub at Ruabon.
A PwC report said the company's expansion in 2017 had been "funded by a mixture of debt, equipment finance, grant and equity" but it had gone on to make trading losses in the following two years.
The report said since October PwC had contacted 58 prospective buyers of the business but no acceptable offers had been made so it would be sold off in parts.
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