Mr Wilson, however, has not resigned; nor have his colleagues. Neither have they produced any proposals of their own. Rather they seem to have been plunged into gloomy passivity. What about a rescue rights issue? What about the sale of a landmark building?
According to Greycoat, one reason the Postel plan was favoured by the management was that it was the only serious proposal to come forward. The suspicion remains that was the only one treated seriously by the board, because it was the only one to keep the company and management intact.