The developer behind Newcastle’s tallest tower has gone into administration with liabilities of £211m, new documents show.
An administrators’ report on Newcastle-based High Street Group totals its liabilities at £211.8m, including £123.6m owed to investors who helped construction schemes including the Hadrian’s Tower apartment block, and £87.7m to unsecured creditors.
The report estimates the company’s assets at £136m, but £134.6m of that is in “inter-company receivables” and administrators say it is unclear how much of that is recoverable.
