Sir John Madjeski is in talks to restructure loans made to Sackville Properties after his holding company breached the covenants of a £51.8m loan from Royal Bank of Scotland that funded his property acquisitions.
It was only a week ago Sir John was forced to sell all but a fraction of a £400m development around Reading station. He has suffered from his investments in a regional property sector that has barely recovered from the crash two years ago.
04/02/11 Financial Times 15, 17
