A BUSINESSMAN involved in ambitious plans to revamp an historic town centre building is bankrupt.

Carl Robert Gilmour was declared bankrupt as director of development company Insight Property Services by Blackburn county court.

The order means that the company's affairs will be managed by the official receiver.

Now long-standing plans to turn the King Street building into a hotel and restaurant complex have been thrown into doubt.

Mr Gilmour runs the Cellar Bar and won a grant of £35,000 from the English Heritage Fund last year.

He planned to come up with the rest of the cash for the £72,000 face-lift from his own pocket.

Carl Gilmour also runs the Blackburn Brewing Company which brews its own beer and recently acquired the Commercial Hotel in Church.

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