Fellow growing media, ferts and chems company Westland Horticulture bought Sinclair out of administration on 31 July.
William Sinclair Holdings Plc was funded by Leumi ABL with a receivables confidential invoice at £4.7m, stock facility at £3.8m and two loans at £1.4m.
Leumi has first ranking security over the debtors and certain freehold properties.
The group's pension scheme is the largest creditor with a potential claim of £40m. The pension scheme holds first ranking fixed charge over two Sinclair properties in Lincoln.
KPMG helped refinance Sinclair from November 2013. "Poor trading" led to re-engagement of KPMG in May 2014.
New lenders and £12.5m from Natural England for Bolton Fell bogs led to refinancing in October 2014.
Sinclair re-engaged KPMG in May 2015 to help with a future funding shortfall. KPMG found there was "no interest" to buy the business as a solvent sale.
KPMG identified issues including poor summer sales, low summer stock levels, dual running costs and fixed charges stopping trading in administration.
KPMG decided against an administration wind down and liquidation, preferring instead an administration pre-pack "to maximise returns for creditors" to preserve 285 jobs, because of the probable difficulty in selling the Ellesmere Port site, books debts of £6.5m, to keep up machinery value and because only one party could deliver a transaction in the two-month marketing period.
KPMG targeted 45 parties as part of the trade sale. By 19 June, six offers were received. Two were for all the business and assets - believed to be Westland and Bord na Mona.
On 5 July, both parties submitted revised offers and by 27 July only one party was in a position to conclude the sale, which subsequently concluded on 31 July.
The purchaser was Westland (GB Trading). Included in the sale were the Ellesmere Port site, seven peat mosses in Scotland, plant and machinery and stock.
Property in Lincoln was not included and some £12.15m was paid, with £3.7m subject to Leumi's first ranking fixed charge security, and the rest available to creditors.
- Ellesmere Port freehold site: £2.7m
- Bogs in Scotland: £980,000
- Stock: £4,773,000
- Plant, machinery and vehicles: £4,992,000
- Astley property: £20,000
- Vehicles: £35,000