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Re: House of Fraser in trouble...
Companies built on quicksand with no solid foundations again sadly...
Quote:
That strategy, it now seems, is where it all went so badly wrong. Industry observers say that Conviviality’s acquisitions, while delivering stunning revenue growth that looked impressive, ended up exposing underlying weaknesses in its management.
Now, as the hangover kicks in, the recriminations are beginning. Former investors in Conviviality are considering a lawsuit, while the chair of the work and pensions committee, MP Frank Field, has questioned the role of the auditor KPMG, which also ran the rule over the books of the government contractor Carillion before it failed.
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https://www.theguardian.com/business...r-acquisitions
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“The only lesson you can learn from history is that it repeats itself”
Last edited by denphone; 06-04-2018 at 12:00.
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