BusinessBusiness RecoveryCorsie leisure group into administration

Corsie leisure group into administration

The leisure group started by Richard Corsie MBE, Scotland’s former world bowls champion, is under administration

KPMG
Restructuring
was appointed yesterday as joint administrators of the
Corsie Group, a week
after the former Commonwealth gold medallist Richard Corsei announced his
resignation from the company.

Eight employees will be made redundant from the company, based in Haddington,
near Edinburgh, which has an annual turnover of £3.9m, according to The
Herald
.

KPMG said the Corsie Group had suffered from cash flow pressures, stemming
partly from difficult trading conditions and a write down in stock levels.

‘The joint administrators are currently examining the company’s affairs,
although it is too early at this stage to confirm the likely outcome for
creditors,’ it said.

Further reading:

Read
The Herald story

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