Liquidators survey collapse of developer
The collapse of two sister development companies "should rock the foundations of Manx construction" - according to one creditor.
It was revealed in a meeting announcing KPMG as the liquidator of Richmond Square Design Ltd and Richmond Square Construction Ltd.
The list of creditors - who may not get their money back - includes building contractors, decorators and security firms - most of them based on Island.
However, it's government that takes priority in line with insolvency laws for outstanding VAT, income tax and National Insurance bills.
Tanya Humbles spoke to this unpaid supplier outside The Claremont Hotel in Douglas, who explains how his livelihood is affected by it:
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