E&Y loses its seats as ticket firms fail
Unlike the French national team (pictured above), Ernst & Young turned out to be a loser during the World Cup.
Several of its top executives and clients were left without tickets for the semi-finals and final after three major corporate hospitality companies collapsed before the end of the competition, owing over #5m.
The only winner was BDO Stoy Hayward insolvency partner Malcolm Cohen, who was appointed joint liquidator of the three companies.
Champion Cup Hospitality (CCH) sold packages worth #1.14m to big name clients, including E&Y, IBM and building group Bovis, but failed to deliver any of them.
CCH, The Mall Corporate Events and International Championship Management were forced into liquidation after original suppliers failed to deliver the prepaid tickets, and prices in the secondary market reached #750.
CCH’s main supplier, Great Portland Entertainment, paid for 572 tickets, said Cohen, but none were delivered after a provisional liquidator for the agency was appointed.