A BUSINESSMAN insists he was right to pull out of a deal with the Terra Sana restaurant chain.
Expat Ned Latif, 47, told the Olive Press he was ‘horrified’ to find the chain was, he claims, over two million euros in debt after signing for a franchise in Gibraltar.
The Portuguese restaurateur briefly took over the running of three of the chain’s restaurants in Marbella.
But, despite getting the full support of its staff, he claims the figures ‘did not add up’ and the debts – in particular 600,000 euros owed in social security payments – were too large to overcome.
Latif said: “When I came in nobody had been paid and there were big debts. I have not been able to sleep over this whole nightmare.”
In a fierce legal battle between Latif and parent company Stradane, he has now been issued a formal apology for falsehoods. A statement read: “We apologise to Mr. Latif if his image could have been tarnished.”
Latif added: “It is the first step to clearing my name, but who is going to pay back the £40,000 I lost, plus legal fees?”