The firm of Accountants dealing with the administration of failed Cumbrian based shopping outlet K Village have reported the firm’s directors to the Insolvency service’s Directors disqualification unit.
A report complied by KPMG administrators Stuart Irwin and John Hansen, revealed that the directors of K Village (Kendal Riverside Ltd) have both been referred to the Insolvency Unit for irregularities. The Directors disqualification unit has the power to decide on whether a person should be banned from acting as a company director.
The report advised that the administrators have completed investigations into the failure of the company and details of the directors conduct has been forwarded to the DDU. The directors of the failed enterprise are named as Dr Francis Jennings and Thomas Jennings.
The debt ridden Limited company went into administration in December 2012 with debts of over 68m. A survival plan was drawn up by London based Global Mutual Properties Ltd and is waiting to be approved by South Lakeland District Council with proposals to lift restrictions of its ‘factory outlet only’ policy.