Companies behind stalled £94m apartments development owed over £40m when they collapsed
Two companies behind a stalled £94m apartments development in Manchester owed over £40m when they collapsed into administration.
No information has been provided on the future of DeTrafford Gallery Gardens Block B Ltd while no work has taken place on site since permission was granted. . The background Both companies are special purpose vehicles created for the development of residential apartment blocks in Manchester city centre known as Gallery Gardens.
How did they fall into administration? During December 2016, Daiwa provided a loan facility of £28m to an associated company, Sky Gardens. BDO said Sky Gardens "was unable to negotiate acceptable payment terms, had insufficient funds to settle the petition debt and insufficient time to complete a refinance".
The wider group The companies are the latest DeTrafford firms to collapse into administration after St George’s Gardens, City Gardens, Wavelength and Sky Gardens.
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
£11,000 grants on offer to firms taking on staffGrants of up to £11,000 are available to Shropshire construction employers to help train their staff and plug the skills gap.
Lire la suite »
Is the UK a bad place for tech firms?Microsoft's president said a UK watchdog's move to block its Activision deal was 'bad for Britain.'
Lire la suite »
BP faces rebel shareholders over new climate goalsThe UK's major pension firms vote against BP's chair after the company cut its climate ambitions.
Lire la suite »
New CBI boss 'really confident' business lobby group can survive scandalRain Newton-Smith tells Sky News there is much work to do to regain trust but argues UK firms and government ultimately need its broad range of expertise.
Lire la suite »
Westminster Accounts: As betting firms spend more than £200,000 wooing MPs - what can they expect from the gambling white paper?Sky News reveals the amount the industry gives to Westminster figures as the publication of the long-awaited white paper to regulate gambling and gaming draws closer.
Lire la suite »
UK set for showdown with Facebook as Labour backs plan to make tech giants pay for newsLabour will throw its weight behind government plans to force tech giants to pay for news on their platforms - setting up a likely showdown with Facebook. 🤖 A row could prove embarrassing for one Meta executive: former deputy prime minister Nick Clegg
Lire la suite »