Two Allied Carpets directors quit

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The Independent Online
TWO DIRECTORS of Allied Carpets have resigned following the accounting errors that led to the suspension of the company's shares last month. David Pout (below), the finance director, and Steve Barber, retail director, are both leaving with immediate effect. The company would not comment on the level of compensation, although Mr Pout was on a one-year contract and was paid pounds 135,000 last year.

The two directors appear to have taken responsibility for the accounting problem under which some stores had been booking carpet sales on order rather than when they had been fitted, affecting full year profits by pounds 3m.

Bruce Wright, currently interim finance director at B&Q, will join Allied Carpets in a similar capacity. The company is expected to give more details with its annual results on 26 August.