KPMG to review HBOS-invested Wyevale

Big Four firm KPMG has been appointed to undertake a review of Wyevale
Garden Centres on behalf of UK banking giant HBOS.

The bank has a 19% stake in the business, according to a report on
retail-week.com

HBOS is seeking a review of Wyevale’s business plan in determining whether
its profits are sustainable. Annual turnover is estimated at £125m.

Scottish entrepreneur Sir Tom Hunter is a financial backer to the business,
and is currently renegotiating £650m in loans used to finance the leveraged
buy-outs of Wyevale and Crest Nicholson.

Further Reading:

Sovereign
funds target UK plc

MP
attacks ‘dodgy auditing’ and conflicts of interest

Related reading

/IMG/486/336486/trustfall
phil-verity-pw
mick-frankish-l-is-welcomed-to-the-firm-by-grant-thorntons-nw-managing-partner-carl-williams
/IMG/617/118617/racing-car-formula-1