Business remains in administration

Latest business news from the Suffolk Free Press, suffolkfreepress.co.uk, @sfpsudbury on Twitter
Latest business news from the Suffolk Free Press, suffolkfreepress.co.uk, @sfpsudbury on Twitter

A company which ran into financial trouble after proposing to build a multi-million pound tourist centre has had its period of administration extended.

A progress report has been released confirming that family firm Bunting and Sons will remain in administration until April 2015.

Business advisory company Deloitte was appointed to handle the company’s affairs when it went into administration in October last year.

Joint administrators Richard Hawes and Dominic Wong are continuing to assess the firm’s assets.

The report confirmed that the administration is ongoing and closure is not yet appropriate.

It also said that compulsory liquidation of the partnership is unlikely to be necessary.

The failure of the company came after it applied to develop 117 acres of land off the A134 at Great Horkesley, building a visitor centre which would include a county park and Suffolk Punch breeding centre.

The scheme was rejected by Colchester Borough Council in February 2013 – a decision the company appealed but lost in April this year when an inspector upheld the original judgement.