The task of selling Mr Richards' fruit and vegetable retail chain has been handed to Cranfield Business Recovery, who are acting as administrative receivers
for the business which employs around 100 staff.
The land at Crosland Hill forms the remainder of property owned by Foray 1088 Ltd, formerly Standard Holdings Ltd, and is being sold by joint administrative receivers
Keith Hinds and Joe McLean, of Grant Thornton.
Deloitte have been appointed as Joint Administrative Receivers
of Lincoln Group and its subsidiaries, Elland Way Limited, St James Way Limited and St James Side Limited.
David Bennett and David Dunckley from Grant Thornton, joint administrative receivers
of the firm, said it was too early to confirm whether there is likely to be a distribution to the unsecured creditors, but prospects of a distribution "appear limited".
Ross Connock and Rob Lewis of PwC were appointed joint administrative receivers
on May 20, 2011 and, with the support of employees, customers and suppliers, have continued to trade the business while a buyer was sought.
Last night joint administrative receivers
for the hotel site said they were confident of a sale.
Joint Administrative Receivers
' for the hotel site, said: "We can confirm that no sale has as yet been completed on the Newcastle Airport Hotel.
Loftus was a director of Electric Vehicle Distribution International Limited at the time Close Invoice Finance Limited appointed administrative receivers
on 26 March 2001, a company that was later dissolved on 13 January 2004.
Yesterday administrative receivers
, the Kroll finance group, said the assets had been bought by Ruabon Sales Ltd - which has the same telephone number as Dennis Ruabon Sales Ltd.
"Unfortunately, the joint administrative receivers
had to make 16 of the 60 employees redundant.
A cardiff nightclub has been sold by the administrative receivers
of the First Leisure group to a management buy-out team.
Accordingly, no further purchase orders will be issued by the Joint Administrative Receivers
in respect of these sites and any undertakings given by these sites will not be enforceable after this date.