E&Y appointed at Finelist
Ernst & Young, appointed as receivers for car components company Finelist, this week revealed it was 'confident of a quick sale.'
The firm was appointed as receivers for the former stock market-quoted company after it went bust with debts in the region of £114m amid speculation of financial irregularities.
E&Y partner Alan Bloom said: ‘We have already received a number of expressions of interest for the business, which we are trading as a going concern. We are currently looking at the best way to package it for sale.’
The company, acquired by French car parts manufacturer Autodis earlier this year for £159m, had a turnover of £500 million and employs approximately 5,500 people in 600 locations in the UK.
Former Finelist chairman Chris Swan expressed his sadness at the state of the company he built, which won the title of Europe’s fastest-growing company in 1988.
Last year Finelist appointed former Conservative industry minister John Butcher as a non-executive director.