The fact that the administrator needed to borrow money to pay the first fortnight's wages after they took over tells you all you need to know about the position the business was in when they took it over.
So why are Deloitte defensive of the Board in the creditor's report? I would have thought if it was that bad then the Board should have the book thrown at them. It reads a bit like Deloitte think they got a bit unlucky. The real financial situation would have been well known at the high levels for years and once Covid turned up surely the first question as a Board Member would be "are we insolvent"? Sure it came undone quickly but they have had many years of losses it wasn't like the financial situation came out of nowhere. Don't they run "stress tests" on the financials in these large operations?