The UK venture capitalist group said the two sides had been ‘unable to agree on certain contractual matters,’ some of which arose on Thursday. It would not elaborate, while BMW refused to comment until it had prepared a formal statement. The news sent shares in BMW down as much as 8 per cent.
Alchemy had intended to set up the MG Car Company and had announced the appointment of a Deloittes-trained corporate recovery specialist, Graham Hallworth, as finance director, and a former Coopers & Lybrand chief, Brandon Gough, as non-executive chairman.
Jon Moulton, senior partner of Alchemy, is also a chartered accountant who spent most of the eighties working at Coopers & Lybrand.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel