Liverpool Council is owed millions of pounds accrued over a five year period by the firm that operates the M&S Bank Arena.
As the local authority moves ever closer to having to fill a £73m blackhole to set a legal and balanced budget ahead of the next financial year, it has been revealed The ACC Liverpool Group, which operates the event complex on the King’s Dock including the arena, is in debt worth millions of pounds to the council. A repayment plan to recover the finances is yet to be finalised as the group confirms its business plan for the next 12 months.
Liverpool Council is owed around £7.1m by the group for what it described in a statement as historical debt relating to property transactions between 2015 and March 2020. Of that, £2.6m is in year trading sums.
