You’ve been warned: this defender of the under-attack night time economy whose liquidated firms owe millions of pounds is a serial defaulter

Alex Proud. Pic: City Business

You’ve been warned: this defender of the under-attack night time economy whose liquidated firms owe millions of pounds is a serial defaulter

Alex Proud appeared on Sky News in September lambasting the Government over the lockdowns which were killing the night-time economy and the 10pm curfew in particular. All well and good and something all those involved in the after dark economy agree with except perhaps for the creditors left with unpaid bills following the collapse of Mr Proud’s Stanmer House company.

Alex Proud at Stanmer House. Pic: The Argus

Avoid, avoid, avoid

Rose Lock of the Sussex based Argus newspaper has charted how Mr Proud liquidated the company running the hotel and restaurant at Stanmer House near Brighton owing more than £1m.

“My feeling about Alex Proud is that anyone supplying one of his firms needs their head examined,” said Ian Carrotte of ICSM Credit, “avoid, avoid, avoid is my advice as his track record shows a cavalier attitude to paying creditors or even HMRC with more than ten million pounds unpaid by a string of firms he controlled. Nearly all go bust when the creditors or the tax man begin winding up proceedings.”

Rose Lock reported: “Brighton-born entrepreneur Alex Proud had been running Stanmer House since 2016 but has closed the manor and liquidated the management company, Proud Publishing Ltd. An official public record on the London Gazette shows HMRC presented a petition to wind up the company to the High Court in London in February. It was alleged Proud Publishing owed £275,000 to HMRC, according to documents at Companies House.

“Brighton and Hove City Council is also among the list of 39 unpaid creditors, with Proud Publishing Ltd owing £30,629 to the council and £1,125,019 overall to all creditors.”

Creditors were told bluntly they wouldn’t get a penny after a petition to wind up the company was presented earlier this year. The creditors included local suppliers such as Real Patisserie, Brighton and Newhaven Fish Sales, Brighton Paper Round Ltd and Brighton and Hove Coaches. His reaction to the petition was to voluntarily wind up the company ahead of the court hearing blaming the liquidation on Covid-19 and a rent increase to Stanmer House.

Alex Proud’s firm Proud Publishing Ltd also owed £95,012 to Westminster City Council and £19,049 to the City of London Corporation, as the firm ran several venues in the capital.

Mr Proud has controlled a number of night clubs. Pic The Times

London connection

Capanies House documents showed the company owed £95,012 to Westminster City Council and £19,049 to the City of London Corporation, which is the governing body for the historic centre of the capital. Proud ran a number of nightclubs and bars in the city.

Back in January Mr Proud told The Argus he was already facing having to liquidate the business because of a rent increase. He said: “I’ve put millions of pounds into Stanmer House but we are having to liquidate the company.”

Sky TV interview

On September 24 Mr Proud complained to Sky TV about the economic disaster hitting the hospitality industry and demanded financial help for the sector from the Government. What he failed to mention was since 2012 his various companies that have gone to the wall owed HMRC and thus the Government £2.4m in unpaid taxes due to insolvency.

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