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Ex-Welbeck managing director declared bankrupt

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Former Welbeck Group managing director Greg Knight has been declared bankrupt.

The group, which includes Welbeck Consulting and Welbeck Wealth Management, was placed into administration in March 2014.

In August 2014, Money Marketing reported administrators ReSolve were seeking £1.2m in pipeline commission from Welbeck’s network Caerus.

According to the individual insolvency register, Knight was declared bankrupt on 1 July at the High Court. The order will be lifted on 1 July 2016.

It describes Knight as a “self-employed business developer” and former managing director of Welbeck Group.

A statement of affairs from ReSolve last year listed Openwork and Metro Bank as creditors of Welbeck.

Openwork was owed £877,000, while Metro Bank was owed £1.5m. Money Marketing understands the Metro Bank loan was secured against a personal guarantee from Knight.

Caerus chief executive Keith Carby is a non-executive director at Metro Bank.

Metro Bank and ReSolve declined to comment. Openwork did not respond to a request for comment.

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  1. What is astonishing, is that there are still so many ex CFPL/MI/Porchester Group firms out there trying to run with the same 80’s business model “Come and work for us, you can be rich like me, look at my Ferrari!….OK lets have a cold calling competition and the winner can have £20 cash!…. it’s not your business to know how much money your work brings in, get on the phone you can ask questions when you are a ‘partner’……It’s OUR company not MY company… Accounts, why do you want to see those, “don’t you trust me”? etc etc

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