Winding-up order will not be contested, says YPG boss
A winding-up petition has been launched against Liverpool’s YPG Developments, which bosses say will not be contested.
The petition, by Sanan Consulting, has been issued over unpaid invoices.
But YPG boss, Ming Yeung, says it will not lead to job losses and any current contracts have been moved to other group companies.
He said the problems at YPG Developments were due to the collapse of other firms within the group, which comprises around 50 companies.
In 2020 North West Development Consortium Ltd, (NWDC) formerly known as YPG Group Ltd, entered into liquidation, owing more than £9m to creditors.
Yeung Property Group is behind a number of property schemes in Liverpool city centre, including plans to build new apartments in the Fabric District part of the city, and projects on the waterfront called Kings Dock Mills, and Hamilton Hub and Pembroke Studios.
