Firm’s collapse to feature on BBC

Monday 19th October 2009, 12:48PM BST.

wrekin-construction The story behind the collapse of Shropshire firm Wrekin Construction and its ruby gemstone will come under the spotlight tonight.

Wrekin chairman David Unwin’s business activities have been examined by a BBC team at Inside Out.

The programme examines how the Gem of Tanzania, dubbed the Wrekin Ruby, became the focus following the collapse of the Shifnal company.

Wrekin Group and Wrekin Construction went into administration in March this year, with the loss of more than 500 jobs.

Mr Unwin bought Wrekin Construction when it was put up for sale in 2007.

At the time of the takeover from the Wellington-based Frain family, Mr Unwin said he’d bought Wrekin for a “nominal amount”.

It was formally announced in June 2007 that the London and Middle Eastern Group, owned by Mr Unwin, was taking over the firm. Mr Unwin bought Wrekin through another of his companies, Derbyshire-based Tamar Group.

And it was Tamar which owned the gemstone, which was sold to Wrekin in exchange for £11 million worth of newly-issued preference shares in the Shifnal-based company in December 2007.

The Businessman and the Ruby will be featured on tonight’s Inside Out programme at 7.30pm on BBC Midlands.

View more: Telford news, Wrekin Construction news.