Manchester United legend Ryan Giggs loses £100,000 after 12-year business investment backfires
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A restaurant owned by former Ryan Giggs has failed to repay debts totalling more than 563,000 after the business collapsed last year, according to newly released financial documents.Georges Dining Room and Bar, located in Worsley, Greater Manchester, has been unable to settle its outstanding liabilities following its insolvency. The paperwork shows the business also failed to pay a 22,000 bill owed to its liquidators.Giggs himself has reportedly lost 99,925 after investing personal funds into the venture. The documents reveal the restaurant owed 75,616 in taxes, 44,095 in bank loans and overdrafts, and 28,302 to employees at the time of its collapse.Liquidators confirmed that creditors will not receive any repayments, stating: There will be no dividend to the creditors. There have been insufficient realisation with which to pay the liquidators.Giggs, 52, opened the restaurant in 2014 alongside business partners Kelvin Gregory and Bernie Taylor.The former Manchester United winger has recently been involved in football-related events, including travelling to South Korea to take part in a legends match featuring former teammates such as Rio Ferdinand, Nemanja Vidic and Dimitar Berbatov.The post Manchester United legend Ryan Giggs loses 100,000 after 12-year business investment backfires appeared first on Linda Ikeji Blog.
A restaurant owned by former Ryan Giggs has failed to repay debts totall