Threshers owner hires KPMGas administrators October 29, 2009 FIRST Quench Retailing, the owner of off-licence chains Thresher and Wine Rack, yesterday said that it has appointed KPMG as administrator. The Board said it had not been able to inform colleagues and employees of impending job uncertainty before the news surfaced. KPMG said that the “best prospect for the business is a sale as [...]
Director pay in focus at AI November 15, 2009 ADMINISTRATORS to Aero Inventory (AI), the AIM-listed aero parts group that collapsed last week, are looking at ways to claw back money from the company’s directors amid concern over the level of pay and bonuses taken by key executives. KPMG, which last week took control of AI on behalf of banks, owed more than £300m, [...]
Zurich loses 51,000 clients’ data October 22, 2009 Swiss insurer Zurich Financial Services said it had called in auditors KPMG to investigate after details of 51,000 UK customers were lost at a data storage centre in South Africa. There is no sign so far the information has been misused by fraudsters, Zurich’s UK subsidiary said. KPMG will investigate the incident and will also [...]
Take the plunge, don’t be afraid January 14, 2010 SITTING in a leather armchair in the atrium just below his office in Chancery Lane, Grant Challis is musing on the last two years. In that time he has gone from working for a listed investment bank to starting up his own firm, Frostrow Capital: “The scary part is taking the plunge, the reality is [...]
The numbers man on why London needs to give the right message October 21, 2009 John Griffith-Jones definitely comes across as a man on a mission. Whether he’s talking about hooking accountancy giants KPMG up with as many of its European partners as possible, helping the banks through one of the most catastrophic crises in their history, preserving the status of London as a financial centre, or teaching young children [...]
The numbers man on why London needs to give the right message October 21, 2009 John Griffith-Jones definitely comes across as a man on a mission. Whether he’s talking about hooking accountancy giants KPMG up with as many of its European partners as possible, helping the banks through one of the most catastrophic crises in their history, preserving the status of London as a financial centre, or teaching young children [...]
Threshers fights administration October 27, 2009 First Quench, the owner of Threshers and Wine Rack, was last night fighting the threat of administration as it feels the effects of the downturn. The firm is being advised by accountant KPMG, and it is understood that a pre-packaged administration – where a new buyer is agreed with secured creditors – is one of [...]
Nat Ex woos Tube boss for driving seat December 7, 2009 TUBE LINES boss Dean Finch found himself in demand yesterday, as struggling transport group National Express tried to secure his services as its next chief executive. But the tube maintenance group, which looks after the Jubilee, Northern and Piccadilly lines, is eager to hold on to Finch. “He will now be having talks with the [...]
JPM Caz still leading FTSE adviser pack… November 29, 2009 BLUE-blooded City brokerage JP Morgan Cazenove is still proving its mettle as the City’s dominant corporate broking player, topping the adviser leaderboard again over the past quarter despite uncertainty caused by its imminent takeover by JP Morgan. The latest Hemscott adviser rankings guide, published today, shows that the firm advises a total of 240 broking [...]
Half of all PEdeals distressed October 19, 2009 HALF of all private equity deals are now being completed under distressed conditions, according to accountants KPMG. But the firm said this is not a surprisingly high level “given the hype around distressed balance sheets”. Michael McDonagh, a partner at the firm, said there were only 17 deals above £10m over the last quarter and [...]