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Flats scheme falls foul of credit crunch

A LUXURY 140-flat development in Sheldon is in severe doubt after the collapse of White Fire - a local developer.

A LUXURY 140-flat development in Sheldon is in severe doubt after the collapse of White Fire - a local developer.

Work had been taking place at the site between the new Aldi supermarket and the BP petrol garage on the A45.

But the future is now uncertain as it emerged that building firms are owed more than £2 million after the Bank of Scotland pulled the plug on the Horizon scheme.

A south Wales company which is £310,000 out of pocket has been forced to axe 20 skilled workers at its timber manufacturing plant and call in the liquidators.

Bob Ennis, of Timber Developments, said: “That’s the end of a well-established family company and a lot of skilled men.

“The only contact we’ve had from White Fire since we left the site at Christmas is a text message to say not to bother coming back on site.

“We feel as though we have been robbed of £310,000 in labour and materials by the bank. When this site eventually reopens, they’ll have the benefit of our work and goods and I doubt we’ll see a penny.”

Now Welsh MP Adam Price and Andrew Mitchell, MP for Sutton Coldfield, have written to bank chiefs asking them to justify the decision to suddenly stop funding for the project.

Mr Mitchell’s constituency includes at least one firm hit by White Fire going into administration.

 

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