Abbeycrest withholds property cash

JEWELLERY group Abbeycrest has told Moorgarth Property Investments it will not be paying more than £300,000 it owes in relation to its former head office.

Abbeycrest negotiated a deal with Moorgarth to bring an early end to its tenancy of the building at Wilmington Grove, Leeds, through a series of payments but is now refusing to pay the first instalment.

The company said that in the face of "challenging trading conditions" it had been in discussions with Moorgarth to try and renegotiate the deal. Moorgarth agreed to t... 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...