A home renovation contractor has been awarded £40,000 ($65,000) of refurbishment loans after being accused of “losing out” to the City of London Corporation (CLC).
Rev Run has said it has been forced to shut its shop because of the cost of the repairs and the cost to repair the house.
The company, which was run by John Ruggles, said it had been awarded the loans because of its “long-term relationship with the city” and was “unfortunate” to lose out on the money because it had taken on “longer term loans”.
However, Rev Run said it was “very pleased” to receive the loans after having spent “years working to repair and renovate our premises”.
“Rev Run’s reputation is well-loved by the community and it is disappointing to lose a significant amount of money,” said Rev Run chairman, Robert Molloy.
“We are confident the loan will provide our customers with a significant improvement in their home and we are proud to have made the investment in this project.”
Rev, and all of its employees, are working hard to make the house a more attractive, inviting and enjoyable space for guests to enjoy.
“The company is currently looking at a number of potential improvements and we have been in contact with our clients to discuss the options.”
At this stage we would like to make a statement that we have made every effort to make Rev Run a profitable business and we look forward to delivering a positive and safe outcome for our customers.
“The council said it will be investigating Rev Run and the loan awarded.
The council has a history of taking on the cost and risks associated with major projects in the borough.
It said it “has been in discussions with Rev Run” about the loan.
The Rev Run business was founded in 1868 and is known for its large commercial kitchen, which it has since turned into a popular restaurant.
Rev Run opened its first restaurant in the UK in 1971, and its restaurants have won numerous Michelin stars.
Its owner has a long history of running businesses in the United Kingdom and Ireland, and has been the chairman of the Board of Trustees of a number companies.
He was knighted in 2003 for services to the hospitality industry.
He is also a member of the Order of St Andrew, the Order, and the Order to the Flag.
Rev Ruggels daughter, Sarah, is the chief executive of Rev Run.
Rev run’s website says the business has a staff of around 40 and the company employs more than 100 people.
Its website says its main aim is “to offer exceptional service to our customers, our customers’ families and our customers to their families”.
Rev Run said the council would be reviewing the decision to award the loans.