Get involved: send your pictures, video, news and views by texting KNEWS to 80360, or email
Owners of Dalton Mills in Keighley calls in administrators
10:00am Friday 8th March 2013 in News
The property firm that owns the historic Dalton Mills in Keighley has called in the administrators.
Lyn Vardy and Toby Underwood, from PwC, have been appointed joint administrators of Wakefield-based Magna Holdings Ltd and Magna (Yorkshire) Investments, chaired by former Yorkshire Forward chairman Terry Hodgkinson.
The two companies operate three multi-let office sites in Yorkshire, including the Grade II listed Dalton Mills, which Magna has owned since 2004 and failed to sell at auction in 2011. The administrators have kept on the company’s five employees.
Lyn Vardy said: “The directors have been working with the secured creditor over a number of months to resolve the companies’ financial difficulties.
“However, they have been unable to secure alternative funding to the levels required. Consequently, the directors have appointed administrators to protect the companies’ assets as buyers are sought, and have agreed to work with the administrators to maximise the returns available to creditors. We are hopeful of finding a solution to preserve jobs.”