Auditors flag up £300k write-off at Valiant
Valiant's recruitment business investment faces £298,634 write-off, post-unaudited accounts notice
AUDITORS have recommended to Valiant Investments that its recruitment investment should take a £300,000 write-off.
The write-off is described by Valiant as a “material change” from its unaudited accounts announced in 28 April.
The group bought IT recruiters JLI Europe in April 2010, but its poor performance saw Valiant also announce on 28 April that it was looking to dispose of the business.
Valiant was notified by auditors on 31 May that the write-off for JLI of £298,634 was advised.