Developer Blackmore Bond has delayed interest payments to thousands of investors for a second time, fuelling fears in the security of the minibond market.
Blackmore Bond used the illiquid debt investments to raise more than £25m.
It was due to make a quarterly interest payment to its 2,000 investors at the end end of October, but asked for a month’s grace. Now it has confirmed that no payment will be made this month either.
Blackmore Bond said that there had been delays to some of its property sales.
Minibond companies are facing scrutiny after the collapse of London Capital & Finance in January, which owed more than £237m to 11,625 investors.
