Signature Works Gold sold desk-space stakes it didn't own; founder banned five years

Signature Works Gold Ltd, founded in 2017, was part of the Liverpool-based Signature Group of property firms run by Lawrence Kenwright, which owned hotels including the football-themed Shankly and Dixie Dean. It sold desk space to investors in three Liverpool city-centre buildings: The Bling Bling Building, Arthouse Hotel and 60 Old Hall Street. The workspace was to be rented to the public, with the rental income funding investor returns.

The UK Insolvency Service found that the company stopped paying returns in September 2019 and had distributed false and misleading marketing material that stated or implied investors would gain a legal interest in the buildings, formally registered at the Land Registry. In fact Signature Works Gold held no freehold or leasehold interest in any of the three properties. They were owned by separate companies outside most of the Signature group's legal structure, with Kenwright as sole or main shareholder.

The Insolvency Service had the company wound up 'in the public interest' in December 2022, when it had assets of under £100,000 and owed £4.84M. In 2026, the BBC reported that Kenwright had signed a disqualification undertaking: for five years he cannot be involved in setting up or running any company without the court's permission. The Insolvency Service said he was not accused of direct fraud, but that his conduct fell well below the standards expected of directors.

Investors lost more than £4.8M; the company owed £4.84M with under £100,000 of assets, and its founder accepted a five-year director ban.

Investors were told, or led to believe, they would hold a registered legal interest in the buildings, which the selling company did not own.

The properties sat in separate companies outside the group structure, even though Kenwright was their sole or main shareholder.

Returns relied on rental income from the workspace, and payments stopped in September 2019.

As a director, Kenwright allowed the company to circulate the misleading marketing.

If marketing says investors will get a legal interest in a building, the seller must actually hold one. Sell what you own, and keep the property in the structure investors are told about.

The wider group owed more than £100M to creditors when Kenwright and his wife Katie filed for bankruptcy in January 2024. The Serious Fraud Office had investigated after raids and arrests in 2024 but announced in July that it was not pressing charges. In 2019 the group had claimed a turnover above £80M. The BBC approached Kenwright for comment.