Property developer FreshStart Living is to be wound up after a successful petition by an investor, it has been reported.
It comes days after the Manchester firm was put under the spotlight on the BBC’s The One Show.
The business was set up in 2009. Its parent, Empirical Property Group, is still trading.
FreshStart launched a number of schemes aimed at buy-to-let investors, including student “pods” with guaranteed incomes.
Roger Walters took action against FreshStart over a £20,000 deposit he paid on ten flats at a proposed FreshStart student scheme in Nottingham.
He told a local news service: “There’s not a chance in hell of recovering money but I wasn’t going to let these guys carry on. My next aim is Empirical Property.”
According to the Business Desk, FreshStart was set up by Salford-based Andrew Camilleri who was declared bankrupt in 2011 over property loans totalling £9m, including interest. One of his relatives, Alan Pierce, holds most of the shares in parent company Empirical.
FreshStart’s sole director is Charlie Cunningham.
http://www.thebusinessdesk.com/northwest/news/552974-investor-succeeds-in-bid-to-wind-up-freshstart-living.html?news_section=4150
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