Sponsored by
Applecross boss attacks bank tactics
THE former chairman of collapsed housebuilder Applecross has launched a scathing attack on the Bank of Scotland for putting his firm into receivership three days before payday.
Graham Aggett said the bank's move resulted in staff losing a full month's wages.
The Edinburgh-based firm collapsed in May, with 40 staff losing their jobs and only a few employees being kept on to assist in selling off the remaining assets.
Mr Aggett, who launched the company with Colin Cumberland in 1979, said: "I don't believe my staff will see a penny of the wages which are owed to them.
"I was very upset that they chose to time receivership the way they did."
He added that he believed banks used the move as a tactic to cost-cut.
The business, which traded for 30 years, was expanding rapidly in 2006 when the property downturn kicked in and hit the company hard.
Email to a friend
Print this page
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Thursday 24 May 2012
Today
Sunny spells
Temperature: 12 C to 21 C
Wind Speed: 10 mph
Wind direction: North east
Tomorrow
Sunny
Temperature: 10 C to 20 C
Wind Speed: 14 mph
Wind direction: North east
