When Jim McMahon’s brainchild “Our House” store was declared bankrupt just four months after opening in 2015 it was clear that Labour Oldham’s business acumen and suitable partner procurement protocol was clearly in question. Who in their right mind would offer an alternative to high interest rent to buy retailer “Brighthouse” but without debt collectors or any pressure to make payments on time? This model was always going to be exploited and was always destined to fail but even Chronic-Oldham didn’t anticipate the speed of its demise. We can now reveal that when Labour Oldham MP and then council leader Jim McMahon’s “Our House” store entered administration in 2015 had debts of almost three quarters of a million and owed Oldham Council £161,414.
Administration document