Sir David Murray companies sink into liquidation

Terry Murden, Editor | January 14, 2015

A number of companies connected to millionaire businessman and former Ibrox supremo Sir David Murray have gone bust.

The metals-to-property entrepreneur has been forced to accept that liabilities could not be met and that other issues including a dispute with pensioners has led to liquidation proceedings.

The Court of Session has appointed Deloitte as liquidators for a group of businesses.

It is understood that a £22m blackhole in the pension fund contributed to the difficulties.

Sir David had been under pressure from Bank of Scotland to offload assets, including Rangers.

He subsequently sold metals and property businesses and his call centre operation.

A resolution was passed at a meeting of Murray Group Management Limited, formerly Murray International Holdings, which stated: “That it has been proved to the satisfaction of this meeting that the company cannot by reason of its liabilities continue its business and that it is advisable to wind up the same”.

John Charles Reid and Christopher McKay of Deloitte have been appointed joint liquidators.

The headquarters of the Murray empire in Charlotte Square, Edinburgh closed in September with the business shouldering £300m of debts. He also put his £2m home in Murrayfield up for sale.