The former owner of Fine Wines Of Buckingham and Eat At 23 in Brackley has been banned from running a company, following an investigation by the Insolvency Service.
Peter Marshall has been a director of at least 20 companies, of which seven have been subject to compulsory winding up orders. He has been disqualified for eight years by Luton County Court.
Mr Marshall was the director of Network Publishing Ltd, of Ball Moor, Buckingham. The court was told, Mr Marshall failed to pass on advertising revenues of £265,000 to the company’s principal customer the States of Jersey and incurred debts of nearly £200,000 to three print suppliers upon whom it relied.
Mr Marshall told the Advertiser: “This came about when I was in the middle of chemotherapy, having been diagnosed with bowel cancer.
“When the bank found out I was terminally ill, they foreclosed and the final outcome was we had to sell the house to repay the bank.
“To defend an action like this is around £50,000, which I was unable to raise, so I had no choice but to let the matter go to its conclusion.”
Deputy Official Receiver John Reilly said: “Throughout the proceedings Mr Marshall failed to take any responsibility for the company’s failure and blamed it all on factors outside his control.”