Stop Exploiting LGBT Issues to Demonize Islam and Justify Anti-Muslim Policies

Catastrophism Is as Much an Obstacle to Addressing Climate Change as Denial

Brexit Anyone? Why the US Should Care About Thursday’s Vote in the UK

UN Calls for 48-Hour Ceasefire So Aid Can Reach War-Ravaged Aleppo

Climate Activists Occupy Greenpeace UK Headquarters—Wait, That Can't Be Right

Olivia Wilde, Rihanna, Reese Witherspoon, and More Send Prayers to Hurricane Matthew Victims

Lykke Li Directed a NSFW Music Video for Her New Supergroup, LIV—Watch

Kylie Jenner Talks Body Image and Reveals Her Weight: “I Like the Chunkiness”

Jennifer Lopez Shares Sweet Story Time with Her Twins at 35,000 Feet

Gigi Hadid Is Ready for Kendall Jenner’s 21st Birthday “Weekend”

Blacks Leisure suspends board director

  • November 4, 2019
  • News
  • No Comments

Outdoor clothing company Blacks Leisure has suspended a board director, after finding accounting “discrepancies” at a subsidiary. According to the BBC, it found that for at least two financial years, earnings at Sandcity, which sells O’Neill branded boardwear, had been overstated by about £1m.

Last December the firm appointed a new chief executive, Neil Gillis, to conduct a strategic review and revive the fortunes of the ailing business, which also trades as Millets and snow sports specialist Freespirit. One of the issues at stake was to see whether Sandcity, which is based in Washington, Tyne & Wear, should be maintained as a separate entity.

Blacks stated the group’s expected profit before tax for this year and for next year are “likely to be approximately £1m lower than market estimates.”

“Following the identification of these problems the board has taken action which it felt necessary in the circumstances and has suspended the managing director of the Sandcity subsidiary, Darren Spurling,” it added.

Blacks is now talking to employees of Sandcity about its plan to close the Washington headquarters and distribution centre, and combine the business with Freespirit in Northampton.

Got Something To Say!

Your email address will not be published. Required fields are marked *