Blackmore Bonds files for administration as investors face anxious wait for their cash back
Thousands of investors with more than £45m held in “mini-bonds” issued by property investment firm Blackmore face an anxious wait to find out if they will get any cash back after the firm appointed administrators on Thursday.
Geoff Bouchier and Benjamin Wiles of Duff & Phelps have been appointed after a winding up petition was presented against the firm by bondholders last week. This was due to be heard in August.
In a letter to bondholders on Thursday, the trustee – Oak Fund Services – said Blackmore had taken out loans in February and April and had bought further sites,