Firm ‘owes £50m’

The Jewish Chronicle - - News -

MORE THAN 30 com­pa­nies owned by a Jewish prop­erty en­tre­pre­neur have gone into ad­min­is­tra­tion with debts in the re­gion of £50 mil­lion.

Si­mon Mor­ris’s Leeds-based SRM Hold­ings and dozens of sub­sidiary com­pa­nies are thought to owe sub­stan­tial sums to a num­ber of UK high-street banks. A state­ment is­sued on be­half of the com­pa­nies said the prop­erty-mar­ket down­turn had left “no choice” but to call in ad­min­is­tra­tors on Tues­day.

Last year Mr Mor­ris, 31, was the youngest per­son in the Es­tates Gazette prop­erty-in­dus­try rich list.

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