Northern Irish industrialist McGuckian (75) had a far bigger property exposure than previously thought, having interests in a number of major shopping centres and retail parks across the UK and Ireland.
There was an awful lot of debt and values were hit. The Crown Estate, the Queen’s investment outfit, bought Fosse Park last year. McGuckian’s day job of textiles is going well. Antrim-based Cooneen By Design had net assets of €60m.