THREE companies headed by the former chairman of Dunfermline Delivers have run into financial trouble. 

Property developer Bill Fletcher and his wife, Elaine, are sole directors of Linklever Ltd, which is now in receivership. 

Two of their other companies, Linklever Investments Ltd and Linklever (Scotland) Ltd, fell into administration last month. 

Collectively, the troubled organisations own a broad portfolio of properties in Dunfermline, including the old Duracord building (pictured), East Port House and numerous buildings in High Street, Abbot Street, Bridge Street and Bruce Street. 

Money is owed to Clydesdale Bank and the Royal Bank of Scotland and insolvency specialists from accountants BDO LLP, the same firm that helped rescue Dunfermline Athletic from administration, have been appointed.

Three more of their companies, the Linklever Group, Axis Heights Ltd and Linklever Developments Ltd, are trading normally.

A spokesperson for Linklever Group said: “I can confirm that one of the group’s companies is in receivership, and two are in administration as part of an overall restructuring process. All other companies within the Linklever Group are unaffected.”

Companies House lists 14 outstanding standard securities and floating charges, covering money due to the Clydesdale and RBS, under Linklever Ltd. 

They relate to a list of properties in Dunfermline and one in Edinburgh: the ground floor shop premises and rear store at 10 Canmore Street; 4-8 Abbot Street; 12 Abbey Park Place; 10 and 12 New Row; 21/25 James Street; 2/4 Kirkgate; 1-5 High Street; 11 Pilmuir Street; 10 and 10A Cross Wynd; East Port House, at 12 East Port; 2 Canmore Street and the front basement premises at 6 Alva Street in Edinburgh.  

Similar to a mortgage, a standard security is a legal charge over a property which is held by a bank. 

It provides the bank with the right to take possession of the asset if there is debt outstanding and, although it’s normally the last resort, sell the property to try and get their money back. 

The floating charge pertains to all sums due to the Clydesdale and covers all the assets and property of Linklever Ltd. 

The Clydesdale agreed a deed of assignment in June 2015 which effectively means that any Linklever Ltd debts are now owed to a firm registered in Ireland, Promontoria (Henrico) Ltd.

Promontoria gave notice on August 10 that two receivers, James Stephen and Francis Newton of BDO LLP, had been appointed. 

RBS did not have anyone available to comment and Clydesdale referred all inquiries to BDO. 

Mr and Mrs Fletcher are also sole directors at two other companies which have gone into administration.  

Mr Stephen and Mr Newton were appointed as administrators of Linklever Investments Ltd on August 10 and of Linklever (Scotland) Ltd on August 16.

For Linklever Investments Ltd, two standard securities are outstanding to RBS, for the upper floor of 32-42 Bridge Street and for 9, 11, 13, 19, 21, 23, 25 and 27 Bruce Street. 

There is another standard security, held by the Clydesdale, for Ling House at 29 Canmore Street and they also hold a floating charge over all of the company’s property and assets.

A standard security for the old Duracord building in Pilmuir Street and a floating charge, over all of Linklever (Scotland) Ltd’s property and assets, are held by the Clydesdale.  

BDO confirmed that their business restructuring partners, Mr Stephen and Mr Newton, were appointed joint receivers over Linklever Ltd and joint administrators over Linklever Investments Ltd and Linklever (Scotland) Ltd. 

A statement said: "Together, the companies own a number of high street commercial properties in Dunfermline, as well as a piece of development land at Pilmuir Works, Dunfermline.

"The companies have no employees and there have been no redundancies."

Mr Stephen added: “Unfortunately, challenging high street trading conditions have affected revenues and the businesses’ ability to service debt obligations.

“The joint receivers / administrators are in the process of agreeing a strategy with specialist agents and the secured lenders that will maximise recoveries for the benefit of creditors.

"In the meantime, any parties interested in the property portfolio or the Pilmuir Works site should contact BDO LLP.”