When the Barclay brothers bought the Daily Telegraph from a man facing a spell in prison, an almost throwaway accusation that they had taken advantage of an “owner in distress” ended with them suing the Times for criminal libel in France. It is perhaps ironic that their own distress as sellers almost 20 years later was first revealed by the same Rupert Murdoch-owned rival newspaper.
Yet the Barclay family has been “de-possessed” of the Telegraph Media Group not by a wealthier rival, but by their own bank manager. In a challenging economic environment, many people fear their house being taken over by the mortgage provider – but not many are struggling to repay debts of almost £1bn.
