Court threat to Proctor over shop accounts
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Fran Abrams
Political Correspondent
Harvey Proctor, the former Conservative MP, could face prosecution for failing to submit accounts on his shirt shop for the past two years.
Thirteen high-profile Tories including the Deputy Prime Minister Michael Heseltine, bought shares in Cottonrose. Lord Archer, the former Conservative Party vice-chairman, was also among the investors who helped Mr Proctor to set up his shop in south-west London after he was forced out of Parliament 10 years ago.
When it last published its figures in March 1994, it was pounds 150,000 in debt. Companies House has confirmed that if Mr Proctor does not deliver the past two years' accounts by April 4 he is likely to be prosecuted under the Companies Act. The case would be heard in a magistrates' court where the maximum fine for failing to submit accounts is pounds 5,000. If Mr Proctor does file accounts in time, he is still liable for a possible late payment penalty of pounds 1,000.
Among the other investors in the company are several who have since faced scandals themselves. Tim Yeo, member for Suffolk South, was embarrassed by revelations that he had an illegitimate child, while Neil Hamilton, MP for Tatton, faced allegations that he accepted cash for questions. David Ashby was deselected by his Leicestershire North West constituency after losing a libel case over allegations that he was homosexual.
Other Tory MPs who put money into Mr Proctor's company included Mark Lennox-Boyd, David Heathcoat-Amory, Richard Shepherd, Sir Nicholas Bonsor, Philip Oppenheim and Michael Brown. Another investor was David Lightbown, the a former Conservative whip who died last year.
Leapsquare, the public affairs consultancy run by the MP for Welwyn Hatfield, David Evans, also put money into the company.
Mr Proctor, former MP for Billericay, said that he had not submitted accounts for his shop in Richmond because difficult trading conditions had left him unable to pay his accountant. Many other small companies had the same problems, he said.
"It has been quite a struggle to survive. It has not been helped by press comment every six months that we are closing down," he said.
"The newspapers treat this company as though it was ICI. Take your tanks off our lawn, please," he said.
Mr Proctor left Parliament in 1987 after facing court charges relating to his homosexuality.
Neil Hamilton and his wife Christine, who both hold shares in the shop, were there four years ago when Mr Proctor was attacked by two men who were later jailed for the assault. Mr Hamilton sustained a broken nose when he tried to help his friend.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments