Leslie Rosenthal, 53, the former group buying director at Wickes, was acquitted by direction, after the jury at Southwark Crown Court could not arrive at a majority verdict.
The prosecution offered no evidence for a further trial and the judge ruled a not guilty verdict on the one count of making a false statement to Andersen, then auditors of Wickes, in 1995.
Previously, Rosenthal was tried on the charge of fraudulent trading during 1994 to 1996, where he was jointly indicted along with two other former directors, Henry Sweetbaum, former group chairman and chief executive, and Terence Carson, former financial director of the main retailing subsidiary.
Last year, Sweetbaum, Carson, and former finance director Trefor Llewellyn were acquitted on charges of fraudulent trading.
This count of fraudulent trading against Rosenthal was not proceeded with in the second trial.
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