Four firms in Vincent Tchenguiz’s property company have gone into administration less than a week after the tycoon was arrested in a Serious Fraud Office (SFO) raid.
Thousands of jobs in the Peverel group, the UK’s biggest property management company, could be at risk after the board said it could not honour £125 million debts.
The day-to-day management of the company’s 200,000 properties has not been affected by the collapse at this point.
Mr Tchenguiz, who grew up in Iran after his Jewish family fled Iraq when Israel was created, sits on the Peverel board.
