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Report on K Village directors sent to 'disqualifcation unit'
Updated 11:17am Thursday 30th January 2014 in News
ACCOUNTANTS handling the administration of Kendal Riverside Ltd - owner of K Village - have reported the company’s directors to the Insolvency Service’s Directors’ Disqualification Unit.
A report by KPMG administrators John Hansen and Stuart Irwin revealed that directors Dr Francis Jennings and Thomas Jennings had both been referred to the unit, which has the power to determine whether a person should be banned from acting as a company director.
The KPMG report said: “We have completed our investigations into the failure of the company and the conduct of the directors and have filed our report with the Directors’ Disqualification Unit.”
In the same report, the administrators revealed they have drawn fees of £117,189 since Kendal Riverside went into administration in December 2012 with debts of £68m.
Last November, a survival plan for K Village was drawn up by London-based Global Mutual Properties Ltd. If approved by South Lakeland District Council later this month, it will mean the centre would be able to widen the range of stores it could attract. Currently, K Village can only rent units as factory outlets, which the administrators say restricts its economic potential for would-be buyers.
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