FD of collapsed business disqualified as director

The finance director of collapsed female lifestyle business Branded Leisure
has been disqualified as a director.

The Insolvency Service has disqualified Renwick Haddow, an ACCA accountant,
for eight years from acting as a director following a similar disqualification
earlier in the year for MD David Humphrey.

Haddow was found to have misled investors about the financial situation of
the company and failed to keep accurate accounting records.

Branded Leisure, which was set up to bring women together for targeted
marketing events, collapsed soon after it begun trading after significant
capital expenditure and lack of forecasted revenues.

The Ofex-listed business entered into a CVA and investors lost around £2m.

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