Co Antrim family firm lands £10m funding from an equity deal
Co Antrim family-run housing firm WJ Law has landed a new equity deal worth £10m after entering administration.
The Lisburn-based business has received the funding from property investment and development company called Wirefox, which is run by Bernard Eastwood - grandson of former bookmaker Barney Eastwood.
The investment comes after WJ Law & Co enters administration as part of a "managed process" with their only debtor, Danske Bank.
It's understood the bank has approved of the new partnership.
WJ Law has been behind a number of well-known housing schemes since the company's inception back in 1903.
Now, Wirefox - which brings architecture, property and project management experience - will add its land to WJ Law's portfolio.
The company's executive chairman David Law said: "We are delighted to announce this exciting new partnership of the WJ Law culture and competencies with the capital and team ethos of Wirefox.
"This partnership marries the very best of WJ Law's century-long local experience of bespoke building for discerning customers with the broader UK-wide experience of Wirefox."