Company behind failed Paragon Interiors bid revealed

Alan Hardy

The company behind the collapsed bid for Parago Interiors was a London boutique outfit, according to reports.

Construction News has named the company as Red 7 Property, which is based in Covent Garden.

The deal to buy stricken Paragon Interiors was called off last Tuesday, resulting in all staff at the firm being made redundant.

Adminstrators were called in at Paragon last month, with staff not being paid for February. In email exchanges seen by TheBusinessDesk.com, staff were angry about the lack of wages, with one saying: “Words escape me for how this process has been handled. Complete and utter disregard to all employees efforts involved in the company since my employment within the business.”

Paragon owner Alan Hardy replied saying he was “straining every sinew to find a buyer for this business and pay [you] every penny owed.”

Last week Hardy said that negotiations to sell Paragon were “ongoing”.

He added: “Right now my thoughts are with everyone who has been affected by this very sad news and the entire process leading up to this and I just hope they can find the new opportunities that their talents and efforts so richly deserve.”

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