Welcome to Yorkshire paid £68,000 interest on emergency loan from North Yorkshire County Council

Welcome to Yorkshire paid almost £70,000 in interest on an emergency loan granted to the tourism agency by North Yorkshire County Council, it can be revealed.
By Chris Burn
Published 24th Oct 2021, 05:45 BST
Updated 24th Oct 2021, 08:38 BST

A £500,000 loan with a seven per cent interest rate was taken out by the company in September 2019 at a point when it had come close to running out of money and being unable to pay staff.

The deadline for repayment was moved several times but it was announced this week that the debt had been repaid in full as a result of the sale of a building owned by Welcome to Yorkshire in York.

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Carl Les is North Yorkshire County Council leader and a Welcome to Yorkshire board member.Carl Les is North Yorkshire County Council leader and a Welcome to Yorkshire board member.
Carl Les is North Yorkshire County Council leader and a Welcome to Yorkshire board member.
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Welcome to Yorkshire refused to confirm any details about the sale but figures were provided by North Yorkshire County Council confirming over £68,000 in interest had accrued.

A spokesperson for North Yorkshire County Council said: “Welcome to Yorkshire has fully repaid the £500,000 loan that was in place.

“The repayment was within the period of the terms of the loan and Welcome to Yorkshire has no further commitment.

“In total, the repayments amounted to £568,696.59.”

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Related topics:YorkshireNorth Yorkshire County CouncilYorkAGMYorkshire Post

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