TOP Worcester property tycoon Neil Grinnall has had to call receivers into several of his companies after running up what is believed to be millions of pounds of debts.

It has been revealed that Grinnall, responsible for many luxury inner-city living schemes, has been forced to call in accountants to sort out two of his companies and is in the process of winding down a third. Receivers Moore Stephens were called into Neil Grinnall Properties Ltd and Neil Grinnall Classic Homes on Monday. Mark Bowen, a partner at the Birmingham-based firm, said: "We do not know at this point how much debt the two Neil Grinnall firms are in, we are still reviewing that.

"However, we are hopeful that we can recover this by selling the remaining properties owned by the firms.

"The companies have 24 unsold domestic properties at the two former Kays catalogue offices, K1 and K2, and at the Bath Road site and several commercial units at K1 and K2, as well as at Hadzor in Droitwich."

The market value of the remaining luxury apartments and townhouses alone comes in at £5,317,000. The value of the commercial units has not

been released.The company most people will be familiar with is Neil Grinnall Homes, which has been a name associated with Worcester for the past 15 years.

That firm's apparent success culminated in the opening of a new headquarters, at Hadzor Hall in Droitwich, last year.

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As well as buying the Grade II listed hall itself, Mr Grinnall also built 82 new Georgian style townhouses on the 54-acre estate.

But a spokesman for the business yesterday (Friday) confirmed it too was the subject of a winding-up petition.

He said it was "highly likely" that its 10 employees would be made redundant.

Mr Grinnall was also responsible for converting the former Kays catalogue offices in The Tything and developing luxury apartments and townhouses in Diglis Road and Bath Road.

The Chamber of Commerce, Herefordshire and Worcestershire, announced its sadness at the collapse of the companies.

Christopher Harvey, head of policy and lobbying at the chamber, said: "We're always sorry to hear when any company gets into difficulties like this.

"These particular companies have done a lot in terms of redeveloping older buildings in Worcester and elsewhere in the county and helping to regenerate important parts of cities and towns.

"Preserving buildings that have got a place in the history of the city and giving them a use which extends their life well into the 21st century is something which the community values and needs to see continue in some form."

Mr Grinnall could not be contacted for a comment.