A STRING of companies run by a Hampshire businessman racked up debts of nearly £566,000.

Construction boss Alan Murphy, 48, has now been disqualified from taking part in company management for eight years following a ruling by the Insolvency Service.

He agreed this month to the undertaking after accepting unfit conduct. Hundreds of thousands of pounds remain unaccounted for.

The agreement avoids a court process but any breach would be punishable by a fine or imprisonment of up to two years.

Mr Murphy was the director of three failed companies that went into voluntary liquidation, leaving traders and other creditors out of pocket.

According to the Insolvency Service, a liquidator was unable to account for the destination of nearly £679,000 from one of the businesses.

In another example, Mr Murphy made payments of more than £91,200 to himself or on his behalf, even though creditors should have been paid first.

The three businesses were A&M Construction Group with debts of £216,518, A&M Design & Build with debts of £235,584, and A&M Secured Car Parking, with debts of £113,762.

In a statement, the Insolvency Service said: "Acceptance of the undertaking prevents Alan Murphy from being a director of a company or, in any way, directly or indirectly, being concerned or taking part in the promotion, formation or management of a company for eight years."

Mr Murphy gave his address as Marine Drive West, Barton-on-Sea, New Milton, and his work premises were at Iver, Buckinghamshire.