A TORY peers business empire has hit the rocks amid mounting debts.
Administrators have been called in to run a showjumping venue and a property letting business owned by 65-year-old Scots aristocrat Lord Rowallan.
The Rowallan Activity Centre near Kilmarnock is set in 1000 acres and run by Johnnie Rowallan, his third wife Claire and his daughter and granddaughter.
It has a bar and restaurant, shops and a paintball centre as well as livery stables.
But accounts show the company must repay creditors £1.4million this year and are saddled with a further £1million of debt.
Meanwhile, Rowallan Holdings last published books for 2010 show liabilities of £2.1million against assets of £119,000.
Papers show that the administrators are renowned insolvency specialist Blair Nimmo and a colleague from KPMG.
