Statement of affairs shows the multi-million pound debts of Colwyn Bay firm
A property development company that has gone into liquidation owes millions of pounds to creditors – including nearly £500K to Conwy council.
Penrhyn Ltd, that was based in Colwyn Bay, was involved in property development – including homes and other schemes.
It was involved in the redevelopment of land around the Civic Hall in Colwyn Bay – with charges lodged against land to the east of the former council offices. A charge is a form of security a company gives a lender over its assets to secure a loan.
Conwy council vacated the Grade II Listed site and a number of…