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Michael Herbert

Ferrari-driving Herbert (57) runs Europe’s largest Kentucky Fried Chicken franchise as well as a large property portfolio. Herbert transferred his shareholding to his wife Leslie in 2010. Values are recovering but there is a lot of debt. Herbel Restaurants (Ireland) had assets including properties worth €105m but also debt of over €62m.

Parent company Herbel Ltd owns property, which it values at €177m but debts of €137m. Assets include a Haagen-Dazs franchise, office blocks, industrial parks and retail outlets. Herbert also owns a chunk of Donegall Place investments with Pat McCormack, the firm which splashed out close to €200m on Scottish retail properties in the boom and is saddled with heavy debts.

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