THE saga of one of Plymouth’s biggest business collapses is finally at an end, after more than 10 years and with about £17 million in debts still unpaid.
Joint liquidators have wound up the affairs of London and Westcountry Estates Ltd, a firm which owned and operated some of Plymouth’s biggest business parks, including Sugar Mill and Faraday Mill.
The company, run by wealthy city couple Mike and Diane Hockin and other family members, operated 25 commercial and business parks, mainly in Plymouth, which combined had about 350 units. These were used by small and mid-sized businesses, with more than 1,500 people working in them.
The company fell into administration in March 2012 and went into liquidation in October 2014. Mr and Mrs Hocking claimed a widely publicised interest rate swap sent them to the wall and they later received a substantial out-of-court settlement, following a four-year legal tussle.
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