BusinessBusiness RecoveryHat Pin calls in Vantis administrators

Hat Pin calls in Vantis administrators

Hat Pin has called in Vantis administrators to undertake a review of the company’s assets

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.

Further reading :

Hat Pin chiefs quit

Hat Pin drops auditor BDO for PwC

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