Home Reit, the scandal-hit “landlord for the homeless”, is to finally put long-suffering shareholders out of their misery by winding down the business.
The company, whose shares have been suspended for the past 18 months, confirmed on Tuesday morning that it would be in “the best interest of shareholders” to sell off the remainder of its buildings.
Home Reit is not even sure investors will see any of that money, given that it needs to repay loans from Scottish Widows, its main lender, which is demanding its money back, and keep back some funds for future litigation.
The company is being sued by some of its own shareholders. Home Reit, in turn, is taking legal action against its original investment adviser, Alvarium. It is