Thames: West Brown loans to heating company 2 million
Live broadcast on August 12 News The Times reported that the financial situation of the boss of West Brown was in trouble, and the financial challenges faced by Lai Guochuan seemed to be intensifying.
WBA, the company of Lai Guochuan, owns 88% of the shares of West Holdings Albion Bromwich. His company’s accounts show that the company defaulted on a loan of 2 million pounds provided by a heating company headquartered in central England Warmfront Holdings, although it did not explain why the heating company should provide such a loan.
The heating company has agreed to take formal action to recover the loan and interest as of February 8, 2024. due to the punitive interest rate of 5% per month since June 2022, this debt is expected to be about 4 million pounds.
Lai guozhuan has missed the deadline to repay the 5 million pound loan borrowed from West Brown to his Hong Kong company Wisdom Corporation three times. Meanwhile, West Brown also obtained a loan of 20 million pounds from MSD UK Holdings Limited, with an annual interest rate of 13.8 percent.
(eagle)