Thursday, Feb 26, 2009
Another one bites the dust
Yorkshire Post: Maverick property tycoon forced to call in administrators
ONE of Yorkshire's biggest property developers has gone into administration, blaming "continued difficulties" in the financial sector.
KW Linfoot, the firm behind the mothballed Leeds Lumiere which was to be the tallest residential skyscraper in Europe, claimed that banks had "effectively strangled" the business and denied it any opportunity to trade through the downturn.
He was one of the pioneers of city living but Kevin Linfoot's multi-million pound empire is now in ruins.
Posted by little professor @ 09:02 PM (380 views) Add Comment
2 Comments
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1. fubar said...
He says the banks have denied him the opportunity to trade through the "downturn". Clearly not spotting the irony of needing massive amounts of credit -other peoples money - to keep trading means there is fundamental flaw in your get rich quick scheme. Another idiot "entrepreneur" bites the dust and the country just got a bit better.
2. mark wadsworth said...
Imagine a roomful of Kevin Kinfoots, Grant Bovey, Greenbays etc, all wailing "I had a million pound property portfolio. The profits were going to materialise but the bank pulled the plug".
Glorious.