Are Manston owners about to go bankrupt?
Strong doubts have been expressed over the ability of the current owners of Manston Airport to continue due to massive debts.
Trevor Cartner and Chris Musgrave brought a majority share in Manston from Stage Coach owner Anne Gloag but their company (Wynyard Park Limited), shows debts of over £30m. This debt is for the financial year ending 2014 and auditors have expressed expressed doubts about the groups ability to continue, say the BBC.
A spokesman for the company has claimed that they have since paid off that huge debt and are, all evidence to the contrary, a great success.
This news calls into question the ability of Stagecoach's Ann Gloag and Wynyard Park's duo to afford to build something worthwhile on the airport site.
At the same time one has to wonder how strongly they can actually afford to resist a competent Compulsory Purchase of the site.
Only time will tell.
What do you think will happen?
