BUSINESS

Northumberland 'concern' over company finances

Northumberland Council is looking to exert more control over its wholly-owned property firm after it posted losses of £30m.

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By Martin Ford | 24 February 2021

Northumberland Council is looking to exert more control over its wholly-owned property firm after it posted losses of £30m.

Advance Northumberland inherited a £281m debt from its predecessor company Arch, and has asked to defer interest rate payments and further borrowing after being further hit by COVID-19.

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Martin Ford

Popular articles by Martin Ford

  1. Goodbye to all that
  2. GLA developer stuggles with £300m debt
  3. Mansfield names next chief executive
  4. EXCLUSIVE: Public back council funding hike
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