The collapse of 拢35m-turnover contractor Harry Neal was partly prompted by bad debts, a liquidator鈥檚 report has revealed

A letter to creditors from UHY Hacker Young said the client behind a contract for a development near the Barbican in London, which Harry Neal won in 2006, was placed into liquidation in 2008, leaving it with a 鈥渟ubstantial claim to recover鈥�. A second unnamed client also failed to pay off all its debt.

It has emerged that an unnamed director of consultancy Wyse Power made an offer to buy the firm, but the offer was 鈥渋nsufficient to help resolve the financial difficulties鈥�.