Cardy Construction, the building giant which collapsed this year leaving hundreds of companies with an uncertain future, is facing claims for more than £18.1 million of debts, new documents reveal.

The Canterbury-based contractor said various contractual disputes led it to file for administration in July, papers filed at Companies House show.

It said arbitration claims worth about £3 million were settled for much less than expected, leaving it without the cash in the bank to pay its debts when they were due.

It had £14.4 million of debts when it appointed Tunbridge Wells-based RSM as administrators but since the firm’s troubles, claims for nearly £4 million extra have come forward.

In total, 968 creditors are listed, although 165 of them are for no value.

The business had 13 live contracts when it went under – for clients including Rolls Royce, hotel chains and various education providers – ranging in value from a few thousand pounds up to £25 million.

The company had increased turnover by 15% to £77.6 million in the year to the end of March, although pre-tax profits of £525,000 were down 31%.

Joint administrators Alexander Kinninmonth and Duncan Beat estimate they will only be able to recover £2 million on contracts worth £10.5 million on its books.

It means its overall assets are expected to realise just £2.9 million, having been estimated to be worth £13.9 million.

Accounts for the year to March claimed total assets were worth £16.8 million.

Founded in 1946, administrators said Cardy employed about 100 staff at the time of its demise, although this figure rose substantially when subcontractors on its various projects were taken into account.

They said it had “a good reputation in the construction industry” but said cashflow had been affected by its various contractual disputes.

Employees, as preferential creditors, are due £165,274 in unpaid wages and holiday pay.