Cheshire news Collapse of Greensill finance empire causes hundreds of job losses MetiNews.Com

MetiNews.Com - Administrators confirm 305 employees based at Daresbury Park near Warrington made redundant

Cheshire news Collapse of Greensill finance empire causes hundreds of job losses MetiNews.Com

MetiNews.Com - Administrators confirm 305 employees based at Daresbury Park near Warrington made redundant

Cheshire news  Collapse of Greensill finance empire causes hundreds of job losses MetiNews.Com
08 April 2021 - 17:00

Breaking News ! More than 300 Cheshire-based jobs have been lost after the collapse of a finance company that has embroiled former Tory prime minister David Cameron. Administrators for Greensill Capital have revealed 305 of 440 employees made redundant nationally were based at Daresbury Park near Warrington. The company, founded by Chester-based Australian businessman Lex Greensill, operated four large buildings at the site. Former Tory PM David Cameron has come under scrutiny because Greensill was granted special access to the heart of Government through their relationship. Lex Greensill worked as an unpaid adviser to Mr Cameron when he was PM and after leaving office Greensill employed Cameron to lobby on its behalf. Weaver Vale Labour MP Mike Amesbury, who uncovered the latest details, said: “Sadly, more than 300 jobs have been lost in my constituency. This is in addition to 5,000 UK jobs put at risk at Liberty Steel financed by Greensill.” He added: “Employees working in my constituency and beyond are casualties of an unsustainable business model - corporate casino banking - that is currently unregulated and that must be addressed.

. “Labour is calling for an investigation because of the relationship between Chester-based founder Lex Greensill and former PM David Cameron. “There’s no doubt Greensill was granted privileged access to the heart of Government through his links with Cameron, both when in number 10 and after leaving office. “While acting as Greensill’s adviser, Cameron reportedly boasted he was set to make $60m (£44m) on his share options in the firm.” A spokesperson for administrators Grant Thornton said: “Whilst the Joint Administrators are in continued discussion with interested parties in relation to the purchase of certain Greensill Capital assets, regrettably the Joint Administrators of Greensill Capital Management Company Limited have had to make c440 redundancies from the UK workforce, of which 305 were based at the company’s offices in Daresbury Park. “Those individuals impacted were informed on 12 March and were paid in full up to that time.” The statement added: “A smaller number of employees have been retained for the purposes of the administration. As this process remains ongoing, we are unable to comment further at this time.” Top stories from the CheshireLive newsletter Here are the latest stories from the CheshireLive newsletter Cheshire lake saved from destruction by community M6 and A556 to close as work on new junction 19 bridge continues Four-year-old Cheshire stroke survivor completes marathon Covid survivors could be left with permanent lung damage, fears health campaigner Want to sign up to receive these stories straight to your inbox? It's free and means you'll never miss the most important Cheshire news of the day You can sign up here Not signed up but want to try it out? You can read a preview of today's newsletter here

Source = MetiNews.Com

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Cheshire news Collapse of Greensill finance empire causes hundreds of job losses MetiNews.Com


Cheshire news Collapse of Greensill finance empire causes hundreds of job losses MetiNews.Com


Cheshire news Collapse of Greensill finance empire causes hundreds of job losses MetiNews.Com


Cheshire news Collapse of Greensill finance empire causes hundreds of job losses MetiNews.Com

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