An article in the Independent today estimates that the final cost to the taxpayer from the collapse of USC – a subsidiary of Sports Direct – will cost £700,000.
The article states that:
The papers show that HM Revenue & Customs is owed £576,449 in unpaid taxes and staff are owed £106,005 in wages and redundancy pay. The formerstaff’s pay will be covered by the taxpayer.
http://www.independent.co.uk/news/business/news/usc-collapse-will-cost-taxpayer-700000-10066196.html
What the article doesn’t mention is that the collapse will result in far greater costs for the taxpayer once lost incomes and unemployment benefits are taken into account.
