The board of recruitment consultancy Hat Pin, which discovered various accountancy errors in one of its subsidiaries last February, announced yesterday Geoffrey Rowley and Nicholas O'Reilly from accountants Vantis have been appointed joint administrators of the company.
Bob Morton, appointed non-executive chairman on March 4 after the resignation of former chairman Terry Hitchcock, resigned on May 2 together with Peter Walker, a non-executive director of the company.
The company, which dropped BDO Stoy Hayward for PricewaterhouseCoopers last December said in a statement, the subsidiaries of Hat Pin had not been placed in administration and would continue to trade as normal.
The joint administrators will conduct a review of the company's assets aimed at realising value for the company's creditors.
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