Stricken Harry Fairclough lost £5m in last 12 months

An update on Lancashire’s £430m City Deal, the county’s housing supply and the latest on Blackpool’s £1bn regeneration were on a wide-reaching agenda at Place North West’s Lancashire Development Update.

The company behind the Government's HS2 rail project was over-ambitious and there is "significant uncertainty" as to whether it can be completed between 2036 and 2040 as planned, a report from said.

This year will see fresh services launched including a development map to complement news stories and branded content production for partners.

Preston, South Ribble and Chorley councils have started an issues and options consultation as the authorities seek to map out development in Central Lancashire over the next 15 years.

Marcus Worthington & Company, the construction division of Marcus Worthington Group, has been placed into administration.

Lancashire property business Eric Wright Group has announced increased profit in profits in its latest results, registering pre-tax profit of £10m for the 2018 calendar year, despite a fall in construction turnover.

The administrator appointed to run Preston Guild Hall has formally agreed to forfeit the venue’s long leasehold due to “significant breaches of the lease agreement”.

The Lancashire property and construction company is aiming to build up a £100m portfolio, the news coming on the back of three deals that leave it with a portfolio of £64m.

North West projects contributed to a successful year for St Modwen, the developer said, as its annual results showed a £60.5m profit for the year 2018.