Rangers fans have started asking questions about Graham Duffy, the man who has been talked about as Rangers' potential saviour. The Florida-based Scottish businessman revealed himself at the weekend as the man behind a possible fan-based consortium to take over the club from Sir David Murray, sparking optimism amongst supporters about their team’s future.
However, fan website Rangers Media have taken a more cautious approach to the man referred to by Murray as a “mysterious Florida millionaire” and have taken a closer look at his UK business activities. Those enquiries have revealed concerns about businesses trading as part of his Grantly Group Limited, giving Gers fans a better look at his dealings.
Despite boasting a portfolio containing £119m of assets, it has been uncovered that Duffy has a myriad of companies in the UK – under the Grantly banner – that are either in the process of being dissolved, in compulsory liquidation or have failed to submit accounts to Companies House for various years.
Their research states that Grantly Developments (Scotland) Limited’s annual return is overdue and the company is listed in the Edinburgh Gazette with a proposal for the company to be struck off. The Edinburgh Gazette publishes a weekly supplement list of all companies in Scotland which are to be struck off or wound up.
Furthermore, Grantly Commercial Limited - which gives its business nature as 'retail of fruit and vegetables' -has failed to file its accounts since it was started in 2005 and its most recent annual return is overdue. The company featured in the Edinburgh Gazette in July, with a proposal for the company to be dissolved.
Further subsidiary companies of Grantly Group Limited – as listed on its website –show up more anomalies. The annual return for Grantly Developments (Paisley) Limited is also overdue from April 2009. Grantly Construction Limited is in compulsory liquidation and is late with both its annual return and its accounts. And Grantly Residential Limited - which is still listed as one of Grantly Group's subsidiary companies - was dissolved in 2008.
It was also reported in The Herald last week that Duffy and his business partner Richard Crocket were made bankrupt in 2001, both losing their homes when a buy-to-let development in Mount Vernon turned sour.
He was also involved in Grantly Developments (Parkhead)’s sale of land designated for the Commonwealth Games in Dalmarnock. His company demanded £8 million from Glasgow City Council, leading to the company being accused of holding the city to ransom. The sale was eventually settled for £5.5 million.
To read Rangers Media’s investigation into Duffy’s UK-based businesses, click here.
