For several weeks now, the lending banks to the company have had access to a detailed report on the group's finances by Coopers & Lybrand, commissioned two months ago.
The whisper in banking circles is that the group's total liabilities, including off-balance sheet lending, exceed the pounds 100m mentioned so far. They say the report also points to a large reduction in net assets and to uncertainties over current trading.
Shareholders have been treated to summary announcements on the Stock Exchange screen and a few additional snippets in the group's annual report.
A case for fuller disclosure, perhaps?Reuse content