A BUS company that served towns across Cheshire owed almost £5.3million to creditors when it went bust earlier this year and those affected are set to get a fraction of that amount back.

Wrexham-based GHA Coaches provided a number of services throughout the county and ceased trading on Wednesday, July 13.

Brothers Gareth and Arwyn Lloyd-Davies, who were the directors of the failed company, were disqualified from becoming the bosses of any other bus company at a public inquiry in Welshpool held last week.

The pair had attempted to set up different companies to run some of the services in Wales previously run by GHA Coaches.

Jason Bell, joint administrator at Manchester-based Grant Thornton UK Ltd, has produced a report listing the amounts owed to creditors following the firm's collapse.

In the report, Mr Bell said unsecured creditors would be getting '5p in the £' for money owed.

The report reveals that Cheshire West and Chester Council was owed £26,248 – but will only get £1,312 back, resulting in a £25,000 black hole.

Transport Service Solutions Ltd, the firm that was set up to look after Cheshire East Council's transport contracts, was owed £5,777 – and will get a paltry £288 back as a result.

Most of the creditors are based in Wales but there was one mid Cheshire firm that has been affected as a result of the firm's demise.

Veronica Wyatt, office administrator at Winsford-based Smee Holdings, told the Guardian the firm owed less than the stated figure in the report produced by the administrators.

GHA Coaches hired a plot of land from the firm for its Winsford-based depot.

"They rented the site premises in Winsford from us," Veronica confirmed.

"I had to keep chasing them up for payment towards the end and you could tell they were struggling."

HMRC was owed £976,461 by the company.

Buses owned - and some financed by GHA - were put up for auction in August.

The report adds that £317,000 has been made so far from buses owned by the company, while financed vehicles have brought in £211,000.

Two further auctions are scheduled for later this month and October.