THE company behind The Rock Triangle development says it’s business as usual despite the collapse of Lehman Brothers.
The huge Wall Street investment bank used to own a third of Thornfield, which is transforming Bury town centre with a £350 million project to build shops, flats and leisure facilities.
But Thornfield Properties chairman Jason Marcus said Thornfield was “absolutely unaffected” by Lehman Brothers going into administration.
“Lehman’s historically owned a 33 per cent equity stake in Thornfield,” he said. “However, Bank of Scotland Corporate and the Thornfield founders jointly bought out that stake three years ago in 2005 and therefore Lehman’s no longer has any interest whatsoever, either directly or indirectly, in Thornfield.”
Mr Marcus added: “All financing for The Rock project is provided by HBoS and therefore it’s business as usual for us, as we continue to deliver this exceptional new town centre scheme for the people of Bury.”
The company also said that The Rock scheme would not be affected by the sharp fall in share price this week of HBoS.
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