Footballer's property development firm falters amid debts

Footballer's property development firm falters amid debts




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The property development business, Bilton Ward Developments, set up by former footballer Ashley Ward and his wife, has entered into a CVA (Company Voluntary Arrangement) as its debts reach £1.3 million. 

The retired footballer, who played in the top flight for Blackburn and Norwich, has reportedly invested millions of pounds of his own money to keep the company afloat, after house-building contracts worth £12 million collapsed.

 

Ashley Ward’s wife and business partner, Dawn, told the Mail on Sunday newspaper that Bilton Ward would not go under, adding: “There was a company which owed us a million pounds. We took them to court and the day before court they went into liquidation.”

 

The CVA is a legally-binding contract that outlines how the firm’s debts will be repaid, with the majority of its 65 creditors said to have agreed to continue working with the Wards.

 

Launched 11 years ago, the £15 million business grew from Mr Ward’s football connections. It specialises in developing exclusive properties for footballers, with former clients such as Wayne Rooney and Steven Ireland, and celebrities including Katie Price.

 

The CVA does not relate to the couple’s other companies: BWD Interiors, BWD Investments LLP, BWD (Stud) LLP or Spanish SL, each of which is said to be continuing to trade profitably.

 

A recent statement from the firm said: “BWD has been adversely affected by the collapse of the property and credit markets. The directors remain determined to keep BWD operating.”

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