A member of the Barclay family has called in estate agents to sell off more than 100 properties on Sark, as part of efforts to raise cash under the threat of bankruptcy.
Alistair Barclay, 34, has enlisted Knight Frank as he races to pay down debts.
It comes as Mr Barclay, the youngest of Sir David Barclay’s sons, faces the threat of bankruptcy in Britain after he was hit with a petition from a leading private bank.
The family has said the court action is a personal matter unrelated to their business interests.
Sark, one of the Channel Islands where cars are prohibited, has been linked to the family since twin brothers Sir David and Sir Frederick acquired the nearby island of Brecqhou in 1993.
It is understood Alistair, co-founder of the online estate agent Yopa and a motor racing driver, inherited the parcel of properties when Sir David died in 2021.
Any sale of Sark properties would not include the family’s private castle on the neighbouring island of Brecqhou.
Sir David’s and Sir Frederick’s sides of the family fell out over debts and control of their businesses, which include The Telegraph and the online retailer Very.
The Barclay family regained ownership of The Telegraph in December after repaying £1.2bn in overdue debts to Lloyds Banking Group. They are barred by law from exercising any control, however.
The Barclay family’s activities on Sark have sparked controversy, as Sir David and Sir Frederick were embroiled in conflict with the island’s leaders. The brothers objected to Sark’s ancient constitution and particularly the powers it grants to the unelected Seigneur.