It is believed that the accounts will show a significant repayment of lottery funding and creditors will be paid in full. Richard Heis and Steve Treharne from KPMG are standing by to handle the liquidation, bringing to a close one of the most embarrassing episodes for the Labour government, although there is still no news on the disposal of the Millennium Dome itself.
A spokesman for the NMEC said: ‘It was always the intention to pass control of the company to liquidators before the end of December’. Back in July the NMEC said it expected to be able to give back £19.5m of lottery funds, and the spokesman said the situation had since improved.
KPMG is one of the few large accountancy firms not to have any conflicts of interest at the Dome; Ernst & Young is NMEC’s auditor, PricewaterhouseCoopers authored a damning report commissioned by David James, the company doctor drafted in to rescue the attraction, while Deloitte & Touche reviewed the original over-optimistic visitor predictions for the Millennium Dome – though the final total fell some 1.5 million visitors short of Deloittes’ own worst case scenario of eight million visitors.
KPMG declined to comment on the appointment.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children