Conviviality - notice of intention to appoint administrators, the end of a shameful investment saga!
Those UK fund managers that have thrown nearly £200m at this business since it floated in 2013 should, quite frankly, hang their heads in shame. While their support of management’s strategy of acquiring under-performing assets from desperate sellers at over-inflated prices looks idiotic now, at least it had an element of credibility at one point, just. However, the award of excessive remuneration to the senior managers of Conviviality is unforgivable and lacks total common sense…
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