AM Online

Gowrings £1.6m accounts irregularity

Gowrings plc which sold the assets of its franchised car sales operations to Inchcape plc last year in order to concentrate on its Burger King business, has uncovered accounting irregularities in the motor business's books affecting the past four years' accounts.

Gowrings chairman Derek Coulson said the amount in question, related to overstated balances, was estimated at some £1.6m before tax, adding that the irregularities “had nothing to do with the business sold to Inchcape”.

Gowrings had retained the obligation to collect the dealer group's debts and pay invoices when it sold the businesses.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.