More firms linked to real estate company go into administration

Business believed to be offering loan notes for high interest

- BY BEN HASLAM

NINE more companies with ties to a multi-million pound organisation at the centre of a police probe have gone into administration.

The Seventy Ninth Group, based in Southport, became the subject of an extensive police investigation earlier this year with four arrests being made by City of London Police, after it was believed to be offering loan notes to investors with high interest return over a fixed period.

Eight companies linked to the name had already entered into administration and notices had been filed with The Gazette official public record.