Investors lose £26m after M&E contractor goes under

Administrators to air-conditioning specialist Gallant Building Services have unearthed a mountain of debts following the collapse of the Mansfield-based contractor.
Now it has emerged that 78 investors in the business have lost £26m, after being encouraged to back the £29m turnover contractor on the strength of directors claiming a long-term exclusive air-conditioning deal with hotel giant Travelodge.
The hotel contractor’s trail of debts so far total an estimated £56m, i