Employees desperate to find out exactly what happened at collapsed firm
Wenham Major will have to wait until early July when the administrators will
file their report at Companies House.
The midlands firm entered administration under Vantis after ‘financial
irregularities’ were discovered in the Wenham Major Private Client
subsidiary.The administrators have now sold the core accounting and audit
business to RSM Bentley Jennison and the Leicester-based insolvency practice has
been bought out by senior manager Kiran Mistry to set up a new practice called
WM Proserv LLP. It is understood that as few as 15 people will face redundancy
as a result of the sales.
The administrators have completed their examination of computers and have
begun combing through emails and documents to find out what happened.
The firm was jointly owned by Ammar Azam and John Joyce, who led it into the
Accountancy Age Top 50 with a turnover of £22.2m.
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Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.