EXCLUSIVE: We investigate how a Wisbech company went bust owing £1.6m and leaving suppliers at their wits end
- Credit: Archant
BOASTFUL managing director David Worrall drank champagne to toast completion of a £2 million leisure complex but the next day resigned. Within weeks his firm went bust owing £1.6 million.
This extraordinary photograph was taken during a 90 minute interview with Mr Worrall during the opening of Tydd St Giles Leisure complex earlier this year.
He mingled with MP Steve Barclay, most Cabinet members of Fenland Council including leader Alan Melton and chief executive Paul Medd, and Britain’s only undefeated boxing world champion Joe Calzaghe who had cut the ribbon to open the centre
But David Worrall harboured a secret of what was unfolding at his Wisbech factory.
What happened to bring down Bespoke Oak Supplies Ltd is the subject of investigation by a London firm of insolvency practitioners but the firm’s sudden demise has left many small sub contractors at their wits end.
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“I don’t see why the Fens has such a bad name,” he told me. “You have to have a vision- and the building at Tydd St Giles is a vision. It is not only national but international and if anyone knocks this place they have an axe to grind.”
A special investigation by this newspaper has uncovered plenty with an axe to grind- and mainly directed at Mr Worrall.
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At least one unsecured creditor has gone bust because of the money owed them by Bespoke Oak Supplies Ltd.
The list of unsecured creditors obtained during our investigation includes the names: Bourne Blinds & Flooring of Marshland St James owed £10,500, MKM Building Supplies of Kings Lynn owed £27,700, R J Wilson Electrical of Fleet owed £18,200, S Pope Groundwork of Elm owed £39,000, S Hodgeson Engineering of Kings Lynn owed £20,700, Yves Court Investments of Wisbech owed £10,800 and T G Roofing of Wisbech owed £4,200.
Part one of our exclusive report begins in the Wisbech Standard.