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Bury owner involved in collapsed P2P platform

Almost a fifth of the money owed to investors in collapsed peer-to-peer lending platform Lendy was involved in troubled property development schemes spearheaded by former Bury FC owner Stewart Day. £27m was borrowed by Mr Day's company to build student flats. Investors face losing up to 95 per cent of their money.

Mr Day oversaw losses of £8.3m at Bury between 2014 and 2017. Mr Day sold his stake in Bury to Steven Dale in September. Mr Day also relied on other P2P lenders to fund Bury FC. Capital Bridging Finance Solutions, a Liverpool-based P2P lender, holds a £1.6m mortgage over Bury's ground that was arranged during Mr Day's tenure.

On last Thursday Bury agreed a company voluntary arrangement with creditors to stave off insolvency.

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