February 26, 2006

Unwins: Missing Cash

By Andrew Barrow In Articles
Myles Halley of KPMG, Unwins’ administrator, told creditors last Friday he was investigating deals where assets were sold for less than their true value, as well as the attempted spin-off of ten shops from the group shortly before its December 19 collapse.


ThisIsMoney.co.uk

“‘The books and banking were all over the place,’ he said. ‘We have identified a seven-figure sum paid into DM’s accounts from some 50 collections of cash from Unwins shops and we are looking for more. DM said they were concerned about staff honesty. We are not yet satisfied by that explanation.'”

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