So, a company that had £28m on the balance sheet at its last interims at 31 March, no bank debt and with £16m post-tax profit in the year to 30.09.17 and £9m in the six months to 31.13.18, and with a stock market valuation of £440m is seemingly unable to pay a tax bill of £1.5m.
Moreover, it has been unable to pay this bill for such a long time that HMRC have got so fed up that they filed a winding-up petition a month ago.
And today the FD was arrested - and released on bail, and fraud is being discussed.
What is going on?
|
