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Empire of tycoon with towering ambition crumbles
HE was a flamboyant multi-millionaire who wanted to change the face of York but David Hattersley's business empire now lies in ruins.
The businessman, who spent 20m in less than three years to build up an impressive property portfolio throughout the city, has declared himself bankrupt for the second time.
The jewel in the crown of his property portfolio was the 700-year-old Lendal Tower in York, which he had planned to turn into a luxury 2,000-a-week holiday let.
Mr Hattersley, who also ran the de Bretton Hospitality Group which folded earlier this year, petitioned for the order himself and his wife and business partner, Sue, was declared bankrupt at the same hearing.
Their property group, D & SJ Hattersley Properties, was also wound up.
The de Bretton Group comprised four York businesses: Marmadukes Hotel, St Peter's Grove; Harvilles restaurant in Fossgate; and the Guy Fawkes Inn and Lamb & Lion Inn, both in High Petergate.
In May, trade creditors petitioned for the group to be wound up and more than 100 creditors across the group are now chasing Mr Hattersley for about 800,000, according to accounts.
Mr Hattersley, 42, was left owing about 4m in bank debt after Marmadukes and Guy Fawkes went into administration, most of which was personal debt.
"It is a matter of deep personal regret that my business group went under, causing a great deal of pain and anxiety to the people who worked so hard for me, and to my suppliers," he said.
"We tried everything to keep the business afloat but the unprecedented economic circumstances proved too much."
He added: "We worked for seven months to negotiate a new deal which would have allowed the de Bretton Hospitality Group to continue to trade, enabling us to pay all our creditors in full. That was always our intention.
"Despite being close to a deal, the banks pulled the plug without warning or explanation and brought in the administrators."
Administrator Baker Tilly is continuing to trade Marmadukes and Guy Fawkes and is looking to sell them both as going concerns in due course.
Mr Hattersley's daughter and son-in-law Emma and Chris Watkins took over the Lamb & Lion Inn in May and a month later took on Harvilles after it was placed into voluntary liquidation.
In September 2008, his building firm David Hattersley ceased trading, leaving 60 third-party trade creditors owed about 120,000.
He is understood to have lost over 200,000 of his personal fortune as a result of the building business falling victim in the effects of the economic downturn.
He bought the landmark Lendal Tower, which comes with two adjoining Georgian houses, for 1.2m in 2006 and it was put on the market in August with a price tag of 650,000.
This is the second time Mr Hattersley has been declared bankrupt. The first was in the early 1990s while he was running a design and marketing company. Speaking to the Yorkshire Post two years ago, he said: "I have made a lot of mistakes, but you have to learn from them, nothing really frightens me now, I don't really get fazed by anything."
Mr Hattersley described himself as a flamboyant character with a hot temper who lists his heroes as Lord Nelson and Margaret Thatcher and his hates as Europe, political correctness, spongers and "people who seek to damage our country".
In a statement after his latest bankruptcy he said: "All four businesses are still thriving, albeit in new hands.
"Everyone who was involved in building them up from scratch can take true satisfaction from the fact that they helped established real and ongoing assets to York. Most of the 100 jobs created are still there.
"As for me, yes I've had a setback, but I'm still here – working hard and looking forward to the future."
Property portfolio
Mr Hattersley was declared bankrupt in the early 1990s while running a marketing and publishing firm.
He began buying property in 1994 and the business went on to operate in 11 counties across the UK.
In September 2006 he bought Lendal Tower and its neighbouring cottages for 1.2m
He entered the hospitality trade with the purchase of Marmadukes Hotel in 2006 and went on to buy the Guy Fawkes, Harvilles Restaurant, and the Lamb & Lion.
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Saturday 26 May 2012
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