Bunhill: Keep it in the family

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The Independent Online
EVEN seasoned brokers raised their eyebrows when they looked at the offer document for new shares in Upton and Southern. The money was needed because U&S, under its chief executive Jeffrey Gould, had ill-advisedly bought the Reject Shop for pounds 2.3m only to find an alleged pounds 2.5m hole in the stock list - a gap that is now the subject of a writ and counter-writ.

To survive this cash-flow catastrophe, it launched an appeal for pounds 5.5m through Townsley & Co. Unaware that this relatively obscure firm of stockbrokers had a corporate finance department, investors were further astounded when they were told to contact one Mark Gould of said department.

'Yes, he is my son,' admitted the proud father, Jeffrey. 'He is a 21-year-old graduate who was recruited straight out of university two weeks ago. I promise, he had nothing to do with the recent deal.'