Treasury Minister defends Sefton rescue package

The Treasury Minister says government’s rescue package for the Sefton Group should allow the company to move out of troubling times and continue to flourish.

A £1.3 million loan and the £3.2 million purchase of the Middlemarch site in Douglas will allow the Sefton to continue to operate and work through its debt reduction programme.

The money for Middlemarch comes from Treasury’s land acquisition reserve fund.

Eddie Teare says he's confident the bailout will see a turn around in fortunes that the group needs:

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