Unfortunately our thoughts on this company have come true. We did warn any potential investors, especially widows and orphans, to steer clear until matters were sorted out. Was the company a victim or the new Government´s save 40% strategy or was it mismanagement, or both? Well Mr David Cameron there could be another 10,000 people unemployed and small shareholders out of pocket. The retail investor if they hold shares tend to hold to the end. OK they can write it off against their capital gains! Would a Chapter 11 or Suspension de Pagos be a better system to save companies in financial trouble rather than administration?
Links
Wed 6:09am CNT.L Connaught to enter administration, 10,000 jobs at risk Other
Wed 5:58am CNT.L Connaught suspends shares, warns rescue funding unlikely Other
Wed 4:39am CNT.L - Housing Firm Employing 10,000 Collapses
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