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Title: RBWM may file for Bankruptcy Post by: Cookham Webmaster on April 29, 2020, 06:59:53 PM The Royal Borough of Windsor and Maidenhead Council could be the first to file for bankruptcy because of the coronavirus crisis.
The Tory-run borough depends on hundreds of thousands of pounds in tourism money that Windsor Castle brings. They received almost £3million as part of the government's £1.6billion funding package but are considering issuing a section 114 notice saying they cannot afford expenditure and their financial reserves are depleted. The council says that even if they were given another £3million that housing and communities secretary Robert Jenrick is working on they would still be £2million short because of their exhausted cash reserves. |