BusinessCompany NewsSwedish debt firm finds £6m hole in accounts

Swedish debt firm finds £6m hole in accounts

Intrum Justitia, the Swedish-based debt collection body, has uncovered 'accounting inaccuracies' in its UK operations and ordered an immediate review to find the reason for this shortfall.

Link: Household debt continues to rise

The company, which is due to publish its half-year interim report in August, said it estimated the adjustments would amount to Skr 80m (£6.15m).

At the same time, Intrum has installed a new management team at its operations based in Stratford-upon-Avon, with John Easden appointed country manager and Brian Hanks as financial manager. UK operations account for around 20% of all of the company’s business.

Intrum chief executive Jan Roxendal, in an effort to placate investors’ concerns, said the new UK team would solve all outstanding issues in connection with the accounting inaccuracies.

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