TOP satirical and current affairs magazine Private Eye is probing the activities of a Teignmouth construction firm which has run into financial problems.

The publication is turning its investigative spotlight on Hannon Young Ltd after receiving an anonymous letter on the firm's headed notepaper, making certain observations.

The missive claimed the debts of the company were around £250,000 and claimed £300,000 redundancy payments to the laid off staff would be met by the government.

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