More than £1m in business rates could be written off by a council after a string of firms ceased trading or went into liquidation.
Finance chiefs in North Tyneside say the debt will have to be taken off their books as the businesses involved have failed and no avenues are left to recover the cash.
A report, set to be discussed by the councils Cabinet on December 12, shows that over £1.2m would have to be written off for 13 ventures, including the Rex Hotel in Whitley Bay.
The following details have been given about the businesses:
1. Blue Buck Limited, Rotary Way, North Shields – company liquidated, no dividend to creditors from official receiver, amount owed is £134,615
2. Cairn Duff Developments, Bellway Industrial Estate, Longbenton…
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