Property ‘magnate’ empire collapses owing £27 million
A so called Blackburn property magnate has seen his empire go under and ended up owing £27 million. Stewart Day (former Bury FC chairman) has a big bill on his hands now owed to the creditors with many investors, corporate lenders and consumers set to also lose out on deposits and fees paid under terms proposed by two sets of different insolvency experts.
Day’s Mederco development arm, had projects such as major student property schemes in progress up and down the country – Along with several of his other companies based on Shadsworth Business park they have administrators on board now spelling out the debts owed.
Full story can be read on the Lanchashire Telegraph website.