Creditors who are owed more than £211m have been identified by administrators dealing with collapsed North East property firm High Street Group, but they have been warned that it could take years to settle the company’s affairs.
The company - best known for leading the Hadrian’s Tower development in Newcastle - was placed in administration last year after suffering major financial problems before and during the pandemic.
A newly published administrators’ report has highlighted that loan note holders with investments totalling £123.6m have come forward, while the company had non-preferential unsecured creditors totalling £87.7m. It is unclear whether creditors will receive any pay-out from the administration process.
