Two Wickes directors suspended
Saturday 29 June 1996
Les Rosenthal, group trading director, and Chris Miles, UK commercial director, were yesterday suspended from the business pending the completion of the investigation being undertaken by Price Waterhouse.
They will continue to co-operate fully with the investigation. However, the company said the pair would "have no further dealings with suppliers customers or staff".
It is understood that the problems could stretch back three or four years with the possible over-statement of profits amounting to pounds 15m-pounds 20m. It is unlikely the company will be to announce a more precise figure for at least a week to enable the shares to resume trading. They were suspended at 69p.
Henry Sweetbaum, the former chairman who resigned this week, is understood to have retained City law firm Herbert Smith to act on his behalf, though this was not confirmed. It is possible he could claim compensation for loss of office as his contract was not due to expire until November 1997.
- 1 Malaysian cyclist could face disciplinary action after 'Save Gaza' gloves protest
- 2 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 3 Fifty Shades of Grey trailer provokes moral outrage from US parenting groups
- 4 McDonald’s removes chicken nuggets from the menu in Hong Kong amid major food scare
- 5 Students offered grants if they tweet pro-Israeli propaganda
Israel-Gaza conflict: Israeli targeting policy under scrutiny after shellfire hits a mother and child, a school full of refugees and a doctor’s home
MH17 crash: Investigators discover more human remains and 'huge section of plane'
Students offered grants if they tweet pro-Israeli propaganda
McDonald’s removes chicken nuggets from the menu in Hong Kong amid major food scare
Satellite full of sexually experimental geckos adrift in space, Russia loses control of mission
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
Malaysia Airlines MH17 crash: victims’ bodies bundled in black bags and loaded onto trains
John Barrowman praised for Commonwealth Games opening ceremony gay kiss
iJobs Money & Business
£600 - £650 per day: Orgtel: Conduct Risk Liaison Manager - Banking - London -...
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...
£280 - £300 per day + competitive: Orgtel: Test Analyst, Edinburgh, Credit Ris...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...