INVESTORS who stand to lose thousands following the collapse of a Bolton venture have formed their own support group.

Administrators were called in at Chorley New Road based Harewood Associates early last month, after ruling payouts due on June 1 would not be forthcoming.

Around 1,400 are thought to have been affected by the potential collapse of the company which was offering returns of around eight per cents from it dealings in the property market.

Shares would be bought in property developments, known as single purpose vehicles, ostensibly to provide a healthy rate of return.

London-based investor Johnny Mills is behind the fledgling Facebook page Investors Support Group - Harewood Associates Administration.

And so far he has gained interested from dozens of people based in the same boat, all awaiting the outcome of enquiries by administrators Paul Stanley and Dean Watson, of Begbies Traynor.

Mr Mills told the Bolton News he was only an amateur investor but wanted to offer assistance to those facing uncertainty over Harewood’s demise.

He added: “The page does not aim to give advice on investments, but is there for investors are not alone in the stress and misery of losing an investment.”

He fears investors have been placed in a highly stressful situation as a result of the administration, which came after Harewood posted a £4.3million loss for 2018.

Just this week another associated Harewood firm, Harewood Venture Capital, which was the subject of a winding-up petition heard at the Business and Property Court in Manchester last April, has also been placed into administration.

No announcement has yet been made by the administrators over whether Harewood investors will see any of their orignal investments returned.

The support group can be reached online at