BusinessBusiness RecoveryRestructuring expert Felton-Smith joins Cattles as FD

Restructuring expert Felton-Smith joins Cattles as FD

Cattles brings in Felton-Smith as finance director, as the company plans to offer shareholders a penny a share

Embattled lender
Cattles
has appointed Paul Felton-Smith as its finance director, from its AGM on 29
June.

He is experienced in helping companies enter into financial restructuring.
Previous roles include turnaround director of Choices UK, chief restructuring
officer at MICE Group and finance director of Highbury House.

The company is looking to restructure through selling off into a private
business, offering shareholders a penny in the pound.

Cattles shares were suspended last year and an investigation by Deloitte
found bad debts had been misbooked. Seven directors were removed and the
chairman and chief executive resigned.

Further reading:

More
misery at Cattles with another writedown

Cattles
may cull 150 staff

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