The Royal Bank of Scotland is owed £1.7m, but unsecured creditors (those whose credit is not secured, and are thus unlikely to get it back) run to £6.35m.
According to KPMG administrator Nathan Romeo, founder Kevin Ingram himself bought THA furniture on a "personal basis at market value". Many of the company's assets were sold for £50,000 to BI Group.
A total of £101,383 was owed to staff in "holiday pay, accrued wages and salaries of THA employees".
KPMG is owed £187,582 through its work with the failed firm.
The report said the group "suffered as a result of the recent downturn in the economy; with the resultant curtailing of corporate travel and event spend driving a significant decline in turnover and trading performance".
Founder , the Waterford House Partnership.
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