A Suffolk freight company that recently entered into administration has released its statement of affairs, which shows that it owes nearly £4million to creditors.

Magnus Group entered into administration in November, appointing Andrew Kelsall of Larking Gowen as administrator.

In mid November, this newspaper revealed that the Suffolk-based company was seeking to appoint an administrator to help save the business.

On the same day, Ipswich Town, who was sponsored by Magnus Group, including having the West Stand sponsored by Magnus, announced that they had ended their partnership.

Towards the end of November, Ipswich-based logistics firm Hemisphere Freight Services announced it had agreed to a part-purchase of Magnus.

As a result 25 jobs were saved, but the haulage side of Magnus has been wound down - with 52 drivers losing their jobs on November 17.

Ipswich Star: Magnus Group entered into administration in NovemberMagnus Group entered into administration in November (Image: Stephen Waller / Magnus Group)

A further 23 staff members were also dismissed.

In the recently released statement of affairs, it shows that Magnus owes 164 entries a combined total of £3,955,638.19.

This tally includes £33,000 to Ipswich Town, £1,500 to Suffolk boxer Fabio Wardley and £43,136.23 to the Port of Felixstowe.

Chassis Cab Ltd, based in Addison Way in Great Blakenham, where Magnus was previously based, is also owed £28,047 and Fork East Ltd based in Framlingham is owed £2,916.

Other local companies owed money includes Strident in Ipswich, waiting on £6,148, Portable Space Limited based in Bacton, waiting on £2,937 and Your Telemarketing Ltd in Bury St Edmunds, waiting on £3,312.

Previously, Mr Kelsall said: "We are currently working to achieve the best possible outcome for all stakeholders involved, and we are maintaining a dialogue with staff, customers and suppliers across the board."

Magnus also owes about £694,000 to employees, most of which will be paid by the government's redundancy services.