The Sykes Brothers cont... |
Richings Park today ... Richings Park Wildlife |
The western end of Bathurst Walk should have continued parallel with Syke Cluan, eventually to join up with North Park, which accounts for the cul de sac of St James's Walk which should have linked up with this. The proposed cinema was developed along with some of the planned shops. The hotel next to the cinema never saw the light of day. Although the Richings Park development managed quite well following the 1929 Wall Street crash, despite some defaulters, the investment in a property on Oxford Street which failed and other speculations (see below) may well have overstretched the company and when the bank reneged on a promise of a further loan, the company became insolvent. In 1930 the board declared a loss of confidence in the Sykes. Friend and Harry had to resign from the board. (Eric was not on the board). The Debenture Shareholders, fearing for their dividends, approached the Judge in Chancery |
and secured the appointment of a receiver (Price Waterhouse). His only recourse was to begin selling off assets to secure the Debenture interest, chief of whom was Lloyds Bank. Other creditors and shareholders received nothing. By 1931 the entire Sykes enterprise had ceased to exist. The establishment of the Receivership was not an instrument of liquidation of the company which continued trading. Most of the company’s assets that could be realised were sold off, thus beginning the control by Boyer which continues today. In 1938 Boyer Sand and Gravel (which became part of Hall-RMC) purchased the Mansion and the remnants of the estate and park, including Home Farm and Old Slade Farm. Mr John Leno of Farr-Bedford was the agent who arranged this and other transactions for the receiver. Post war, Boyer sold on plots for houses to the developers including Cotton (The Poynings) and subsequently to Warren (Bathurst |
Walk). Boyer also acquired control of Sutton Farm around this time. Mr George Robert Norrish, an ironmonger from an old Chiswick family, bought several plots of land along Bathurst Walk - from the receiver or Boyer? Bathurst Walk (no. 27) The receivership lasted until well after 1945 and it seems that at some point in the 1950s Mr Roberts was informed by the Receiver that he had no further interest in the Richings Park Company. There was no formal liquidation and bankruptcy of the company or official termination at this time. |
Page 2-5 |