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Mold play centre closes as owner’s firm goes into administration

A MOLD play centre closed last week after owner Stephanie Booth’s firm went into administration.

The Fantastic Funhouse on Bromfield Industrial Estate closed on Thursday, along with a sister site in Wrexham and the Wynnstay Hotel, also in Wrexham.

KPMG accountant specialists have been brought in as administrators for Ms Booth’s business, Global Investments Group, which includes seven hotels across the region.

But the businesswoman has blamed Barclays Bank for her company’s cash crisis.

She said: “Last September as we continued our aggressive programme to expand our leisure interests we received a proposal from Barclays Bank for additional funding of £1m if we moved all of our banking to them and gave them the additional security of Bodidris Hall valued at £1.5m which we owned debt free.

“It took us until June this year to complete the banking move from RBS and we then gave them Bodidris Hall thus honouring all of the conditions requested.

“The bank then stated that ‘the world was a changed place’ and they would not provide the loan after all. We kept to our side of the bargain, they did not.”

A spokesman for Barclays said: “The bank has worked for almost a year with Global Investments Group to try and resolve the company’s many problems, including poor trading, cash flow issues, overextension on capital expenditure and significant pressure from other creditors.

“This was against a backdrop of another of the company’s banks looking to exit their relationship with the business as quickly as possible.

“A range of financial options were discussed during this time, but unfortunately no long-term proposals proved viable.”