The Chamber of Commerce says it backs government’s decision to inject cash into the Sefton Group.
It’s a topic that’s sparked fierce debate since it was revealed that government is loaning £1.3 million to the group as well as purchasing a car park for over three million.
Calling the decision "bold” the Chamber says it demonstrates a holistic approach and understanding of the economy.
With the Sefton Group contributing £7 million to the economy and employing around 300 people the Chamber believes the fallout from the business collapsing would be significant and could have lead to other associated companies facing problems.
The decision to purchase the car park has also been welcomed with the chamber saying it gives government control over a prime site in Douglas and with controversy over planning and development this should be welcomed.