The collapsed airline Zoom is unlikely to be resurrected, according to administrators PKF.

PKF is assessing Zoom's debts and assets and stated that a re-financing deal had not been completed because of the "overwhelming" demands of creditors and suppliers.

"As administrators we will examine every possible avenue to resurrect the business," said Anne Buchanan, a senior partner at PKF. However, she cautioned, "the chances of succeeding are very slim and we must remain realistic about the outcome".

The Scottish-based company suspended all its flights last month, leaving thousands of passengers stranded and an estimated 60,000 with worthless tickets. No form of compensation has yet been distributed directly from the business.

Zoom, founded in 2001, blamed the rising price of fuel and the economic slowdown for its closure.