Business interests of Wrekin boss
Thursday 22nd October 2009, 8:00AM BST.
This is the complex business world of former Wrekin Construction chairman David Unwin.
Mr Unwin either set up or played a major part in all of the businesses listed on the following page.
He said he had “gambled all his business interests” into attempting to save the Wrekin Group from going into administration with the loss of more than 500 jobs earlier this year.
But today the Shropshire Star reveals Mr Unwin is still running a series of successful businesses, many set up in the wake of the Shifnal firm’s collapse.
The Uttoxeter-based businessman is behind a series of companies set up over the last two decades, covering the length and breadth of the UK.
He has held or currently holds directorships of more than 20, many of which have been voluntarily liquidated or gone into administration as Wrekin administrators Ernst & Young chase millions owed to creditors.
Mr Unwin issued a statement to a BBC programme this week saying: “I have, by gambling all my business interests in making Wrekin a successful business, lost almost everything. If that makes me an unsuccessful businessman, then it depends on your attitude to risk. I have had spectacular successes and some fairly spectacular failures.”
Mr Unwin’s Tamar Group, parent company of Wrekin, went to the wall this summer. Another company Britannia Management Services went into liquidation with £7,315 in the bank but owing £118,177 to Wrekin as part of a total claim from creditors of £298,977. London and Middle Eastern Group went into liquidation with assets of about £71,500. It owes £306,500 to Tamar.
One company related to Wrekin, Equatrek (UK), had no assets when it went into liquidation in May, owing £520,697 to Wrekin and £352,247 to Tamar.
A new company Equatrek Group, registered at the same address, was set up in April listing David Unwin as its named director.
The ultimate parent company for many of Mr Unwin’s businesses is the Kingstone Foundation, a trust based in the Channel Islands.
Hundreds of Wrekin workers are still waiting to discover whether there will be any money coming their way and more than 1,000 creditors are owed more than £40 million, which includes a £20 million claim from its pension scheme.
The Gem of Tanzania, dubbed the Wrekin ruby, goes to auction in December but is only expected to achieve a fraction of the £11 million it was valued at in Wrekin’s accounts.
By Business Editor Amy Bould
Pages: 1 2
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