Trading in Mayflower suspended
The accounting scandal at Mayflower, the bus maker, went from bad to worse today when trading in the company's shares was suspended.
The move follows yesterday’s news that PricewaterhouseCoopers has been invited to conduct an investigation into problems at the business relating to ‘delays in passing on payments from customers to one of the group’s finance providers’.
Reports said that John Major, the former prime minister, would face questioning by the FSA over the matter. The Times reported Mayflower as saying a whistleblower had alleged the ‘irregularities’ went back to the time the ex-Tory leader sat on the firm’s audit committee.