FOOTY BOSS: CIGGIE BAN BUST BUSINESS; Smith in deal to beat bankruptcy: EXCLUSIVE.
FOOTBALL boss Alex Smith's restaurant has been put out of business by the smoking ban.
And the Falkirk coach struck a deal to avoid going bankrupt when Smith's in Stirling went bust over debts.
The former St Mir ren, Aberdeen and Dundee United manager agreed to a trust deed to avoid being sequestrated.
Smith, 70, said: "I have been in business since 1972 and I'm looking to retire from that business. The business has been closed for a few months now.
"Its just one of those things. There has been a downturn with various things in last few years, especially since the smoking ban came in.
"My assets covered most outlays - I have a trust deed to wind the business up."
Kenny Craig, director of RSM Tenon, has been appointed trustee to Smith, from Bridge of Allan, Perthshire.
He said: "A trust deed has been signed by Mr Smith to wind up the estate for the benefit of his creditors."
Trust: Alex Smith
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|Publication:||Sunday Mail (Glasgow, Scotland)|
|Date:||Nov 21, 2010|
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