HP Bulmer FD ousted
The accounting problems of HP Bulmer deepened yesterday as its finance director Alan Flockhart was ousted after the firm admitted that holes in its accounts were bigger than first thought.
Link: Auditors investigate hole at drinks company
The company now admits that it has overlooked £3.8m in ‘previously unidentified’ promotional costs, an increase of £500,000 from figures released early last month.
The company admitted that accounting irregularities had not been investigated with appropriate vigour or speed and said that Flockhart was guilty of ‘a spectacular lack of judgement’.
Further board or staff departures could be on the cards depending on the results of a thorough investigation by Deloitte & Touche.