Mill development in administrators’ hands

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Administration

Paul Stanley - Regional Managing Partner | February 11th 2010

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Administrators from business rescue, recovery and restructuring specialists Begbies Traynor have been appointed to a housing development at Chisworth, near Glossop, Derbyshire.

Nigel Price, a partner in Begbies Traynor’s Birmingham office and Paul Stanley, a partner in the Manchester office, have been appointed administrators to Balfour Homes (Chisworth) Ltd. It’s parent company Balfour Holdings Ltd, which was based in Holmes Chapel, Cheshire, entered administration in 2008.

The development of 56 high quality apartments and town houses is in a picturesque location around the old Kinderlee Mill.

Mr Price said his team was currently assessing the site, but it appeared likely that the scheme would be completed and the units offered for sale as a finished project. Some units will hopefully be finished during the spring, with the whole site completed by the end of the year.

Trade creditors were owed in the region of £31,000.

The company had no employees at the date of administration.

About the author

Paul Stanley

Regional Managing Partner

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Paul qualified as a chartered accountant in 1987 with Arthur Andersen an international accounting practice. He worked on audits, management consultancy and buy out due diligence before specialising in insolvency and investigations. In 1990 he was granted an insolvency licence by ICAEW.

He worked on the Robert Maxwell private company administrations in the Middle East in the early nineties and developed strong banking relationships. In 1993 he joined up again with ex-Andersen's colleague Ric Traynor as Ric's first partner in the firm which later changed its name to Begbies Traynor. Paul acts as managing partner in the Manchester office and sits on both the firm's management and technical committees. He has a reputation as a straight-talking, honest advisor who is both technically strong and commercial.