THE bankrupt boss of Swansea's Penthouse restaurant says its future is secure.

A bankruptcy order was made against Peter Way at Swansea County Court earlier this week.

But Mr Way told the Post that the restaurant, on the 27th floor of the Meridian Tower in the marina, would continue to trade, despite the setback.

"Everything will be sorted out and it will all definitely be resolved," he said.

"The restaurant is still open. We're holding a salsa night on Saturday. It's going to be fantastic."

Mr Way declined to comment any further and said this was due to legal reasons.

The restaurant is thought to have employed between 50 and 60 staff when it opened in November, although several walked out in recent weeks over alleged unpaid wages.

A Hertfordshire-based insolvency practitioner has been appointed as Mr Way's bankruptcy trustee.

Ian Defty, of Kingston Smith & Partners LLP, has more than 21 years experience.

Ade Daramy, press officer for the Insolvency Service — the official receiver — outlined the bankruptcy process. "Peter Way will come in to the official receiver's office to answer some questions and detail his assets," he said.

He will also have to provide a list of his creditors and once that is done the trustee will see whether the assets can be sold and sums released to the creditors.

"Creditors can expect letters from the trustee in the next 14 to 21 days. They will have to provide documentary evidence of the amount they are owed."

The restaurant is run by Peter Ways Restaurants Ltd, which means it will not be sold by the trustee. But following his bankruptcy, Mr Way is no longer permitted to act as the director of a company.

A bankruptcy petition was issued against Mr Way in January, with creditors demanding repayment of £905,781.66.

It relates to a director's loan paid to Mr Way by Aquila Support Services, a company which supplied cleaning and support services to the hotel and catering industry before it went into liquidation in June 2009.

The boss of a building firm which fitted out the Penthouse claimed he was still owed more than £60,000.

Mark Tracey, who runs AMC Property Developments said: "I don't think we'll get any of the money back.

"We did the work months ago and we still haven't been paid and my business is struggling."

emma.j.jones@swwmedia.co.uk

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