Failed construction group owed £47m

Construction group Shaylor owed £47m when it collapsed into administration in June, new documents have revealed. 210 jobs were lost when the Walsall-based business collapsed after efforts to find a rescue deal failed. The 50-year-old family business had run into a number of problems, caused by tightening cash flow and on-site delays and disputes. Allied Irish Bank (AIB) is expected to "suffer a significant shortfall" on its lendings of £14.5m. Ritchie and Steven Shaylor are owed £5.4m each while other directors had put in ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
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