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Celebrity Property Developers Hit By Crunch

Bilton Ward Developments who have helped celebrities in the UK build their dream luxury homes have applied for Company Voluntary Arrangement (CVA) with debts of £1.3m.
 
The companies run by Dawn and Ashley Ward has helped top flight footballers such as Wayne Rooney and celebrities such as Katie Price build the homes of their dreams. Ashley Ward was a former footballer playing for Blackburn and Norwich until his retirement about 4 years ago. The couple launched the property development business from humble beginnings 11 years ago and now live in a £2.8m Cheshire mansion.
 
Bilton Ward’s problems were triggered when house-building contracts worth £12m fell through. A statement from the firm last night said: ‘BWD has been adversely affected by the collapse of the property and credit markets. The directors remain determined to keep BWD operating.
 
Ashley Ward’s wife and business partner, Dawn, told the Mail on Sunday newspaper that Bilton Ward would not go under, adding: “There was a company which owed us a million pounds. We took them to court and the day before court they went into liquidation.”
 
The CVA does not relate to Ashley and Dawn’s other companies BWD Interiors, BWD Investments LLP, BWD (Stud) LLP or Spanish SL, each of which continues to trade profitably.’
 
The couple have promised current contracts, including those with Katie Price will be honoured .Katie Price’s (Jordan) new £3m luxury home will be in Horsham, West Sussex .
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