Administrators acting for collapsed North East property company High Street Group have warned creditors to beware of scammers claiming they can aid bids to claw their cash back.
Newcastle-based High Street Grp, the parent company of the High Street Group of companies best known for building the skyscraping Hadrian’s Tower in Newcastle city centre, was placed into administration in December 2021, after a court heard how its debts had grown to more than £200m. Since then, administrators dealing with the collapsed company – which had also been involved in high profile projects including a hotel, office and housing scheme near St James’ Park and a residential scheme on the banks of the Tyne in Gateshead – have said they have identified creditors owed a total of £211m.
Now fresh documents filed at Companies House have highlighted how scammers are targeting loan note holders, saying that an investigator with the Insolvency Service has been drafted in. The progress report, covering the last six months of 2022, says: “Unfortunately there are still numerous scams being targeted against Loan Note Holders. The fraudsters are claiming, for an upfront fee, to be able to pay the Loan Note Holders their funds. This is not true and you should not engage with these people.
