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Richardsons move to gain control
Formsole Limited, the company to whom Hereford United owe £1.3 million, could soon be controlled by the Richardson Group through their development companies.
Sources at Chelverton West Limited have told HU-FC.co.uk that negotiations are taking between the parties in the joint venture company known as CR Chelverton Properties.
The parties are also currently talking to the liquidators of Chelverton Group Limited, Ernst & Young and Robson Rhodes.
The negotiations are centered around the value of the Chelverton share in the partnership.
A spokesman at Richardsons confirmed that their company was involved and would comment further shortly.
Meanwhile, Simon Morgan is understood to have resigned from most of his directorships with the Chelverton Group; in particular Formsole in August 2002. However he is still working for CR Chelverton Properties.
Some assets of Chelverton West Limited, a subsidiary company of Chelverton Group Limited, have been offered for sale and more sales seem likely.